My LUNA disappeared from Binance

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This is one of the reasons why we shouldn't be trusting an exchange. But yeah this situation is somewhat unique and we cannot blame the exchange so much. Until yesterday morning, I was able to see my LUNA balance in my Binance wallet. I was happy that the price of Luna was pretty reasonable from what I bought it for. It has now become a practice for me to keep looking at the price every day.

Today I read it somewhere that they have decided to split the chain and call the old one, LUNA classic and the new one is going to be the actual LUNA for the future. Even though both the chains will be Cosmos chains, the branding will be moving to the new chain. All the information about this change is available on this page.

https://docs.terra.money/docs/migration/exchange-migration.html

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Source

They have a decent document explaining this migration activity. I was clear with all these but then I was again wondering what would happen to the LUNA I was holding on to Binance. Unfortunately, Binance suspended trading and withdrawal for LUNA. It was not good but I was still thinking that my purchase was safe from what I read, the price of the new LUNA and old LUNA can be different and there is a high chance that the old LUNA will no longer be valuable. More information about the airdrops and support is available in this article by Binance.

https://www.binance.com/en/support/announcement/c52fa3c686be4b2b9d5df50de15847ec

Even though I did not expect this to happen, it is quite sad to see my investment going to waste. I was so excited to have purchased about 555555 LUNA when the price was cheaper. Many people also had the opportunity to book some profits by making swing trades. I did not do any trading but just held those tokens on my exchange wallet. Anyways, I don't think I would have any hard feelings if the value of these old LUNA tokens goes further down and vanish. My investment was only experimental. Hopefully, this shouldn't affect anyone who invested a huge amount after the crash.

I personally think this decision to split the chain might be a good one for the investors who lost their funds. I also know someone who had their investment value reach 700$ from 18,000$ because of UST. There are so many people who got affected. Hopefully, this should help them recover their investment back. Let's see.

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Not sure if you figured it out already but LUNA is now called LUNC for LUna Classic so you probably find your old luna there... I did on Kucoin

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if I understand correctly, the LUNAs on BINANCE have disappeared, I had even understood that Binance would have helped TERRA in its transformation, but it does not seem that this is the case if it even makes them disappear from the exchange

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I discovered the same yesterday!
It would make sense if people who had Luna would also get the new coin now...And fair to be honest.
This just sucks. I'm not too sad about it because I didn't have a lot of money in it but it would have been the right thing to do in case of a fork.

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Have you not taken the profit, might be your LUNA will comes as a form of 10X with the new token.

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Ah, that is way too bad but I guess you can't really trust the centralized exchanges. Do you know if they will be getting the airdrop instead of you?

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I heard of the chain split too. When the split is fully done, you will be able to access your LUNC and hopefully trade it. Currently, trading is going on Kucoin. 🙂

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Let's see how it goes when trading of the new Luna will start on the 30th. I had a little on Binance too, lol!

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I hope people can have a chance to recover their losses.

I don't own any but I have friends who do, its so depressing when you think about how much is lost already, let's hope the new fork can turn things around in a positive way.

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I wish you the best with the LUNA fork. Maybe you can recover from your loss. Thanks for sharing.

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The Luna story is very sad but it remembers everyone that Crypto and DeFi is a new field and many things can happen, good and bad ones.
!1up !PIZZA

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We should always be very careful with our investments. !BEER

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