Avalanche (AVAX) and Terra Classic (LUNC) Experience Significant Price Drop – Alleged Connection to BTCTurk Hack
In a recent turn of events, the value of Avalanche (AVAX) has plummeted by a notable 10% within a few hours. This sudden decline is believed to be linked to a substantial transfer of 1.96 million AVAX, worth around $54.2 million, initiated by a wallet identified as 0x32…4f30.
The wallet in question sent a significant amount of AVAX to renowned cryptocurrency exchanges like Coinbase, Binance, and Gateio. Furthermore, it utilized cross-chain bridges like THORChain to facilitate transactions.
However, according to ZachXBT, these transfers were assets withdrawn from BTCTurk, which allegedly fell victim to a recent hacking incident. As a result, not only AVAX but also Terra Classic experienced a significant decrease in value. It is speculated that LUNC, being one of the affected entities, suffered as a consequence of the hack.
Please note that this article does not provide investment advice.
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