A Terra validator leaked the entire secret ‘war room’ chat logs online up until the event that lead to the launch of Luna 2.0, revealing CryptoSlate. Validator THORmaximalist was part of the secret chat group on Telegram that contained members of the Terraform Labs and its founder Do Kwon was also in the group.
The leaked ‘war room’ chat logs show chaotic situations that engulfed after TerraUST got depegged 1:1 from the USD. The chat conversations start on May 12 amidst of all the uncertainties that engulfed the Terra team.
The war room Telegram group was named as “Terra Rebirth League”. Also, the call to launch Luna 2.0 was seen as a matter of urgency in the ‘war room’.
The chat logs also show Do Kwon commenting about a whale. “Well, for one thing, the whale with beth staked in anchor and shorting UST will be locked there for two days. So if the market nukes, then he’s f****d.”
Moreover, the leaked chat logs show that the ‘war room’ was focused on three main topics on May 12. The topics are- Running market module, locked bridged asset, and distribution plan for the new chain.
Validator THORmaximalist spoke to CryptoSlate after leaking the chat logs and said, “I think it was urgent and every day that passed by value was drifting away. Protocols were thinking about moving to other chains or starting their own L1s.
The validator continued, “The projects on the chain are multiplicators of community value. Every single day that would have passed the multiplicator would have went down.”
The chat logs also show another validator asking- “Could someone enlighten me on what this new release is for or what it does?” At one point, even Do Kwon is seen saying, “Can someone summarize the issue? I’m pretty confused.”
Terra Luna 2.0
Amidst all the confusion and hullabaloo, Terra Luna 2.0 was launched on May 27, 2022. The new and revived crypto began trading on top exchanges for $17.8. However, it fell 80% on the same day of its launch sending signals that it could go down much further.
At press time, Luna was trading at $7.23 and is down 22.2% in the 24-hours day trade. It is down 61.4% from its all-time high of $18.87 which it reached on launch day.