'Luna', which once surpassed 50 trillion won in market cap, has become one of the world's top 10 coins.
Luna, a cryptocurrency token, also called 'K-Coin' because it was made by Koreans, recorded a sharp drop of -99.99% in just a few days in the middle of last month.
Lost market capitalization of 50 trillion won and 280,000 Luna domestic investors…
As both the Korean prosecutors and the US Securities and Exchange Commission are investigating the Luna-Tera incident, questions within and outside the coin market are growing as to whether this incident is an unfortunate failure or an intentional fraud.
In the 381th news story broadcast this week, 6 coin experts dissected the Luna-Tera crash.
“The anchor protocol gave me a 20% return. It was a problem from the start.”
(Hong Ki-hoon, Professor of Business Administration, Hongik University)
"The Luna incident seems to be close to inability to cope with any market situation. It is managerial incompetence."
(Kim Dong-hwan, director of Blitz Labs, a crypto advisory firm)
"Even if I looked at it a little bit, this is just a 'Ponzi scam'."
(Lee Byung-wook, Professor of AI Strategic Management, Seoul National University of Science and Technology)
"It's just a happening. Everyone knows that cryptocurrency is a trend in the future."
(Park Seong-joon, head of Dongguk University’s Blockchain Research Center)
“Anyone can fail?
(Ahn Yu-hwa, director of the Korea-China Digital Management Research Center, Sungkyunkwan University)
“There is no such thing as gambling.
Experts are also giving mixed analyzes about the cause of this situation and future coin market prospects.
However, there is no disagreement about the 'necessity of market regulation' to protect investors.
This is because in Korea, the only law that regulates virtual assets is the 'Specific Financial Information Act', which prevents money laundering or terrorist financing.
We would like to take a look at how the Luna-Terra shock will affect the coin market from various angles.