Crypto.com Reverses Traders' LUNA May 12 Transactions: What Happened?

Did you trade LUNA (Terra) on Crypto.com around May 12th? You might be affected by a recent announcement. Leading crypto exchange, Crypto.com, has announced that its users who traded embattled Terra’s native token, LUNA, on May 12 at around – (UTC) did so at an incorrect price, leading to a controversial reversal.

Crypto.com Reverses the LUNA Trades

Crypto.com reversed the LUNA trades from May 12th and claims that the price was quoted improperly in a specific time window. Specifically, in a recent update to customers, the exchange has announced plans to reverse all Luna trades initiated on May 12 between – (UTC). Apparently, these transactions were executed based on faulty pricing data.

Why Were LUNA Trades Reversed?

In an “important update” on Friday, CryptoCom claimed that users who traded LUNA in the hour from – (UTC) were “quoted an incorrect price”. Trading was halted, and subsequent action was taken to address the discrepancy.

Crypto.com's Official Statement

En un comunicado de prensa del viernes, Crypto.com dijo que las operaciones con LUNA se han detenido debido a un error de precios entre las y las. This highlights the technical challenges and potential vulnerabilities inherent in the rapidly evolving cryptocurrency market.

What This Means for LUNA Traders on Crypto.com

Crypto Exchange Crypto.com ha anunciado que sus usuarios que intercambiaron el token nativo de Terra, LUNA, el 12 de mayo entre las y las will have their transactions reversed. If you executed LUNA trades within that timeframe, carefully review your Crypto.com account activity to understand the impact of this reversal.