Cryptocurrencies
Terraform Restarts Blockchain Behind UST Stablecoin, Luna
- Software fix was made to avoid attacks against the network
- Plunge in the value of UST, Luna tokens left protocol at risk
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Terraform Labs restarted the Terra blockchain following a software update to help avoid attacks against the network in the wake of the collapse of its algorithmic stablecoin and the related Luna token that had roiled cryptocurrency markets.
The fix is designed to help avoid so-called governance attacks against its protocol -- a way of manipulating the fundamentals of a given blockchain by acquiring enough tokens to force a majority vote.