Terra Adds More Bitcoin To Reserves; Robinhood Hacker Donates Stolen Funds To Ukraine

Terra Foundation Guard (LFG) buys more Bitcoins to increase the value of its crypto blockchain (LUNA). Global crypto market falls.

Outlook Money Team

Updated on: 18 April 2022 1:47 pm

Cryptocurrency

Terra (LUNA) Foundation Guard (LFG) is on a Bitcoin (BTC) buying spree and reportedly bought another 123.89 BTC last week. This purchase takes the total number of BTC held by the foundation to 42,530.82.

In other news, Beanstalk, a decentralised finance Ethereum (ETH) blockchain-based app, was hacked, and its investors were robbed of approximately $182 million. However, the hacker donated a large part for the Ukraine cause.

Click here to know about another recent decentralised finance hack.

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Cryptocurrency Prices

The global crypto market cap decreased by 1.48 per cent to $1.87 trillion at 8.50 am. However, the global crypto volume was up by 22.89 per cent to $77.32 billion, as per Coinmarketcap data.

BTC was trading at $39,826.93, lower by 0.97 per cent in the last 24 hours. Ethereum (ETH) was also trading lower by 1.22 per cent at $2,997.01.

Here is the LFG reserves breakdown

This is will be updated on a regular basishttps://t.co/vcGfhf6EGW
— LFG | Luna Foundation Guard (@LFG_org) April 9, 2022

Among other major coins, Cardano (ADA) was down by 2.16 per cent at $0.9252, Algorand (ALGO) was trading with a loss of 1.73 per cent at $0.7197, Binance Coin (BNB) was down by 1.36 per cent at $409.44, Solana was however up by 0.11 per cent at $101.36, and Polkadot (DOT) too was also trading with a gain of 3.11 per cent at $17.96.

Today’s top gainer was EvenCoin (EVN), which was up by 187.52 per cent at $0.001133. The top loser was CyborgShiba
(CBS), which was down by 74.6 per cent at $0.00000112.

We’re engaging all efforts to try to move forward. As a decentralized project, we are asking the DeFi community and experts in chain analytics to help us limit the exploiter's ability to withdraw funds via CEXes. If the exploiter is open to a discussion, we are as well. https://t.co/fwceVz6hbi
— Beanstalk Farms (@BeanstalkFarms) April 17, 2022

Meme Coin And DeFi Prices

Dogecoin (DOGE) was down by 1.79 per cent at $0.1404. Its volume to market cap ratio stands at 0.03548. Rival Shiba Inu (SHIB) was down by 2.2 per cent at $0.00002502.
Dogelon Mars (ELON) lost 1.71 per cent to trade at $0.0000007851, Floki Inu (FLOKI) was also down by 4.13 per cent at $0.00002834, and Samoyed Coin (SAMO) by 1.53 per cent at $0.01905.

In the DeFi segment, YFI (yearn.finance) was trading with a loss of 1.98 per cent at $18,707.23. Terra (LUNA) was also down by 2.1 per cent to $78.71. Avalanche (AVAX) was trading with a loss of 1.37 per cent at $76.33, Uniswap (UNI) too was down by 2.66 per cent to trade at $9.34, and Aave (AAVE) fell 0.55 per cent to trade at $169.63.

Latest Update

Terra wants its UST stablecoin and its blockchain to have more backing of an asset, and hence they are purchasing more BTC. "Given the size of Terra's global user base and the utility of UST stablecoins, the Terra blockchain is ideal for entrepreneurs looking to build new protocols. We are glad to launch the Founder Fellowship with our partners to further the expansion of the Terra decentralised economy," said Natalie Luu, Head of Ecosystem Development, Terraform Labs, reported Yahoo Finance.

A hacker used Aave’s network (AAVE) to obtain a flash loan and then bought a large amount of Beanstalk’s native token, Stalk, that allowed him greater governance access over the network. He then transferred out all the funds held there in his own wallet. But surprisingly, he donated $2,50,000 out of the stolen funds to a Ukrainian War Relief effort fund, according to Peck Shield, reported Coindesk.