The Terra blockchain returned to operation after a disruption of around nine hours, as validators charted a route out of their ongoing crisis.
The blockchain was interrupted at block 7607789 a little after 3:00 UTC this Friday (13), around 00:7607790 GMT. Blocks 7607791 and 11 resumed operations around 27:XNUMX UTC.
After resuming the blockchain, Terraform Labs, the company responsible for the Terra ecosystem, made a post on Twitter warning that network validators have disabled on-chain exchanges and Inter-Blockchain Communication (IBC) protocols have been closed. It further encouraged its users to “link off-chain assets like bETH to their native chains.”
The Terra blockchain has resumed block production. Validators have decided to disable on-chain swaps and IBC channels are now closed. Users are encouraged to connect off-chain assets such as bETH to their native chains. Note: The Wormhole Bridge is currently unavailable,” Terraform wrote on Twitter.
The Terra blockchain has summarized block production.
Validators have decided to disable on-chain swaps, and IBC channels are now closed.
Users are encouraged to bridge off-chain assets, such as BETH, to their native chains.
Note: Wormhole bridge is currently unavailable.
— Terra (UST) Powered by LUNA (@terra_money) May 13, 2022
At the time of the shutdown, the LUNA token was priced at around $0,008 and the TerraUSD (UST) was at $0,19. At press time, the assets are now priced at $0,00003 and $0,16 respectively, according to data from the CoinMarketCap.
Over the past few hours, some rumors have circulated on the internet about the recovery of the LUNA and UST tokens, for example like the GAM Investments, from Switzerland, would pay US$ 3 billion, which was denied by the company this Friday morning (13), stating that an article that had been published yesterday (12), including quotes from the CEO from Gam were fake.
