Binance has announced plans to retire the use of addresses belonging to select networks, including Terra Classic (LUNC), as part of its efforts to upgrade wallet infrastructure and improve security. The exchange will phase out some users' addresses on Ethereum, Tron, Terra, BNB Chain, and Stellar networks, as well as networks that share deposit addresses with them.

The proposal seeks to re-enable IBC to the Injective blockchain – a move that would allow the Terraport exploiter to take Terra Classic’s funds.

The Terra Classic (LUNC) Layer-1 Joint Task Force (L1JTF) has completed its proposed work on the Terra Classic network for the first quarter of the year, under the estimated budget. Accordingly, the surplus assets from the Q1 funding has been returned.

The Terra Classic (LUNC) community has suffered another blow to its recovery plans from last year's black swan event, as reports reveal that the network was attacked on its Terraport liquidity wallet, leading to significant losses. Terraport Finance confirmed the attack, but did not disclose the actual sum of LUNC lost, though rumors suggested it was around $4 million.

Binance CEO Changpeng Zhao has responded to the Terraport hack that drained the platform's liquidity account of billions of Terra Classic (LUNC) tokens, noting that none of the stolen assets have been identified on the Binance platform. Some of the funds were sent to MEXC Global and KuCoin, and both exchanges have frozen the assets and are working to protect their users' assets.

The exchange said on Sunday hackers transferred the crypto assets from a hot wallet to an unidentified wallet.

Terraport, a recently-launched Terra Classic DeFi platform developed by TerraCVita, has reportedly been hacked, with all of its liquidity drained. Data from Terra Finder suggests that almost $4 million worth of Terra Classic (LUNC), TerraClassicUSD (USTC), and TERRA has been drained. As of press time, there has been no official statement from the TerraCVita development group or the Terraport team, fueling speculations that this could be a hack or an elaborate rug pull scheme. Some of the funds withdrawn to MEXC Global, amounting to $124K, have been frozen by the exchange upon alert. Concerns regarding Terraport had emerged on April 8 when the project revealed that it had burned almost 100 million LUNC tokens without transaction proofs.

According to an official tweet in the late hours of Friday, the Terra Classic (LUNC) DeFi platform disclosed that Terraport had burned 4,079 TERRA, the project’s governance token, and a staggering 10,602,530 (10.6 million) Terra Classic from the weekly Treasury burn.

Terra Classic (LUNC) climbs to the top of the list of top-gaining assets on CoinMarketCap, rallying nearly 7% in a 24-hour time frame to a high of $0.0001322 before facing a roadblock. LUNC has continued to show strength on its journey to reclaim the February high above $0.0002. Despite facing stern opposition from bears, the asset retains a position among the top gainers, securing third, with a 3% gain in the past 24 hours. LUNC's trade volume has also seen a rapid increase in the past few hours, indicating a massive flow of demand into LUNC by investors. The Terraport project aims to bring more burns and utility to LUNC, while Cremation Coin recently announced a new innovative NFT initiative that could help burn more LUNC. Terra Classic is currently trading for $0.0001255 at the time of reporting, tilling the ground for a rally to the much-coveted $0.0002 territory, which was last reclaimed in early February.

Terra Classic influencer Classy Crypto clarified that the ultimate objective of Terraport's TERRA token is not to boost it to $1, but to fuel LUNC burns. Terraport aims to introduce more volume to LUNC and allocate a substantial portion of its Treasury toward burning more Terra Classic tokens. The team stated that 27% of the project's fees would be used to buy back and burn LUNC tokens weekly. Terraport has not yet begun Terra Classic burns, but the team noted that the date for the first burn is not yet fixed, but burns will continue every week once it is determined.

Terra Rebels, a Terra Classic development group, has launched a donate feature on its community-driven platform, Rebel Station, to support the LUNC crypto community pool. The fund is managed by Terra Rebels and provides financial resources to developers, projects, and initiatives to improve the LUNA ecosystem. Rebel Station has integrated the fund feature directly into its platform, making it easy for users to contribute. Positive responses from the LUNC community have already been received. Terra Rebels also aims to offer various tools and services on the Rebel Station, including a decentralized exchange, a wallet, and staking services. Previously, Terra Rebels announced that Rebel Station is now in the pre-production phase and operating independently of Terraform Labs’ infrastructure.

Terra Classic (LUNC), the embattled digital asset that currently works in the path of recovery via the help of its determined community, is among the most viewed digital assets in Europe and Asia, according to data provided by CoinMarketCap, the leading crypto price-tracking platform.

Terra Classic (LUNC) is among the top-viewed crypto assets on CoinMarketCap (CMC) in Europe and Asia, with an 11.4% market share placing it as the fifth most viewed crypto asset by investors in Asia. LUNC is above other notable tokens, including Ethereum, XRP, and Binance Coin. The report also notes that LUNC holds the fifth position among the most viewed cryptocurrencies by European investors, with a substantial 9.88% share of all the views in Europe. Terra Classic is by far the most viewed asset in the Decentralized Finance (DeFi) sector on the platform, accounting for up to 44.20% of all the views accorded to the DeFi sector in Q1 2023. The community-led revitalization plan and the burn campaign that has already incinerated over 52 billion LUNC have been primary drivers of heightened interest in the asset.

Saudi Arabian wealth fund Sanabil now discloses its investments across the venture capital space, and many of them are into crypto.

Cremation Coin, a project contributing to the Terra Classic burn initiative, has burned 30.6 million LUNC tokens, bringing its total burns to 326 million. The project now ranks seventh on the list of biggest Terra Classic burners and is just 30 million tokens away from overtaking Allnodes as the sixth largest burner. Cremation Coin's latest burn represents 91% of this week's total Terra Classic burn transaction. LUNC DAO also contributed to the campaign, incinerating 1.57 million tokens. Despite a reduction in burn rate, LUNC DAO has been incinerating millions of tokens occasionally.

Binance is considering the Terra Grants Foundation's application for $5m in funding to support projects on the Terra Classic chain. In a blog post, Terra Grants Foundation Director Edward Kim said the funds would help revive and instil confidence in the decentralised finance industry. Binance has confirmed receipt of the foundation's request, with the funds expected to be distributed in two tranches if the application is successful. Terra Classic, once a leading decentralised finance platform, has struggled with funding development, but Binance has already contributed millions of dollars to the community's burn initiative.

Binance has burned 1.6 billion Terra Classic (LUNC) tokens worth $203,000 on April 1st as part of its ongoing effort to reduce the total supply of the digital asset. This follows the exchange's resumption of LUNC burn after halting in December 2022.

Washington Nationals Park is still displaying branding for Terra, despite the crypto ecosystem's recent collapse in May 2022, which devastated the industry.

The long-awaited Terra Classic project, Terraport, has finally launched. Terraport is a decentralized platform that is designed to provide fast and low-cost transactions, as well as a range of features and tools for managing cryptocurrency holdings.

Zaradar, a blockchain game development company, has shared a trailer for its upcoming game, Terra Classic. The game is a play-to-earn (P2E) game that allows players to earn cryptocurrency by completing in-game tasks and challenges.