Terra Blockchain (LUNC) Hit By $5 Million Hack And Outage: Details

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Aug 01 2024

NTRN-3.521%

LUNA-3.021%

Should l Buy NTRN?

Terra Blockchain Exploit: The Terra blockchain experienced a significant security breach resulting in the theft of approximately $5 million worth of cryptocurrencies, including 60 million ASTRO tokens and 2.7 BTC, due to an unpatched vulnerability related to IBC hooks that allowed the attacker to manipulate token transfers.
Response and Recovery: In response to the hack, the development team halted the blockchain to prevent further exploitation and subsequently deployed an emergency patch to fix the vulnerability, allowing normal operations to resume after four hours.

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Technical Analysis for NTRN

Technical Sentiment Analysis for Neutron (NTRN) As of , Neutron (NTRN) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for NTRN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, NTRN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Neutron (NTRN) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00595	0.00898	0.0119	0.0149	0.0178	0.0208	0.0237
Fibonacci	0.00898	0.0112	0.0126	0.0149	0.0171	0.0185	0.0208

About NTRN

Neutron is the most secure cross-chain smart-contracting platform. It combines the security of a top 10 blockchain by staked capitalization with bleeding-edge cross-chain infrastructure to enable DeFi applications to securely scale across a growing network of 51+ interconnected blockchains.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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