TerraCVita proposes to help hacked delegators recover funds.
Terra Classic development group and network validator TerraCVita has launched technical assistance to support Terra Luna Classic (LUNC) delegators that have been victims of hacks, per a tweet from the validator today.
Notably, the validator conceded that they might not recover it all.
“We have technical assistance for those with hacked delegations… we cannot promise to save it all, but we can certainly try,” TerraCVita tweeted, directing users to the validator Discord.
We have technical assistance for those with hacked delegations… we cannot promise to save it all, but we can certainly try.
Visit TerraCVita validator on our discord for help. https://t.co/gvcoFQODyR— TerraCVita (@TerracVita) December 19, 2022
It is currently unclear if this service is limited to only LUNC holders who delegate with the TerraCVita validator or if it extends to all LUNC holders. It is also unclear if there has been a recent rise in hacks. TerraCVita has so far not responded to inquiries from community members. However, as confirmed by The Crypto Basic, no such concerns have been raised by other delegators or influential community members.
Notably, Allnodes launched a similar service for token delegators in November, as reported by The Crypto Basic. Initially called the Anti-Scam Help service, the StakeRecover service promises to allow users to withdraw their delegated assets before malicious actors can do so within the unbonding period. Currently, the service is only available to Ledger, Keplr, and Cosmostation wallet users.Â
A New DApp Is Coming To Terra ClassicÂ
In another positive development, TerraCVita tweeted last Thursday that it was working to bring another decentralized application (DApp) to the Terra Classic network in partnership with Unity, a new network validator.Â
Another dApp on its way. @TerracVita helping the community build its way to recovery
Meet the @unity_validator and dApp team at https://t.co/arThiIr9io pic.twitter.com/Foz7q9BXzC
— TerraCVita (@TerracVita) December 15, 2022
Notably, the validator is run by a team of DApp developers, per the tweet from TerraCVita. The Unity development team claims to allocate 75% of its rewards to development. Unity currently ranks 67th in the Terra Classic active validators list, with over 445 million delegated LUNC, per data from LUNCPenguins.
In a tweet today, Ivan@Unity (@Ivandoesit), who co-owns the Unity development team, hinted at developing a Lend & Borrow app on the network sharing a homepage interface.
Without further hesitation welcome to a hint of or lend borrow app. We don’t just talk, we follow through with what we say. Unity development validator. @luncburnarmy @CryptoIranian @LuncBae pic.twitter.com/gq6Qr9biLx
— Ivan@Unity (@Ivandoesit) December 18, 2022
It bears mentioning that the TerraCVita has already rolled out a Casino that has burned at least 1 million LUNC. Seeing a burn mechanism in the Lend & Borrow app will not be surprising.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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