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Author Name: BoingBoing
This story was originally published on Boingboing.net. [1]
License: CC-BY-NC-SA 3.0.[2]


People in Argentina, Iran, Pakistan, and Nigeria lost everything when Terra crashed

2022-05-31 00:00:00

In countries with unstable currencies prone to hyperinflation, some people keep their net worth in the form of stablecoins, which are pegged to the U.S. dollar. Unfortunately, many of them bought Terra (LUNA), which wasn't backed by actual U.S. dollars. On March 29 it was trading at $107. Today, it's going for $0.00001154. Now, many people in Argentina, Iran, and Nigeria are wiped out.

Rest of World interviewed several people who lost all their money when Terra crashed:
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[1] URL: https://boingboing.net/2022/05/31/people-in-argentina-iran-pakistan-and-nigeria-lost-everything-when-terra-crashed.html
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