\n<\/p>\n
The Terra blockchain shut down for a second time on May 13 after its validators, users who tend its blockchain, pulled the plug. <\/p>\n
\u201cTerra blockchain has officially halted at the block height of 7607789,\u201d Terra Daily tweeted<\/a>. \u201cTeam validators have temporarily paused the network to come up with a plan for reconstituting it.\u201d<\/p>\n<\/div>\n Meanwhile, the collapse of Terra\u2019s ecosystem has prompted several leading centralized exchanges to delist LUNA and UST pairs, including Binance<\/a>, Bybit, and BitMEX. Binance has also suspended<\/a> all deposits and withdrawals for the Terra network.<\/p>\n The news came eight hours after the blockchain resumed block production; it was paused for two hours<\/a> on May 12. Terra had halted the network fearing a potential governance attack following the aggressive inflation of its network token, LUNA, which was triggered by Terra\u2019s native stablecoin UST losing its peg<\/a>.\u00a0<\/p>\n The peg was purportedly maintained by a mechanism allowing UST holders to redeem their stablecoins for Terra\u2019s network token LUNA<\/a>. The UST bank run has caused LUNA\u2019s circulating supply to balloon to more than 6.5 trillion tokens, with LUNA last trading hands for $0.00001746. As such, the team feared that someone could purchase a large stash of tokens for cheap and delegate them to a malicious validator in an attempt to steal the project\u2019s remaining assets.<\/p>\nGovernance Attack<\/h4>\n