Seoul and Silicon Valley-based cryptocurrency Hashed, a wealth fund and community developer, Terra (Luna) It was announced that he lost over $ 3.5 billion during the collapse.
The venture capital firm has been recognized as one of Terra’s largest financiers since 2019.
Company Lost $49.9M Directly Due To Terra
Although the Hashed company has not yet made a statement on the subject, it is understood that the company’s losses are large when the on-chain data is examined.
According to the data, Hashed has staked millions of dollars on LUNA mainnets.
The company locked $27 million on the Columbus 3 mainnet, $9.7 million on the Columbus 4 mainnet, and $13.2 million on the Columbus 5 mainnet.
When the price data in early April is analyzed, it is seen that all losses of the company are above $ 3.5 billion.
Hashed Has Been Working With LUNA Since 2019
In an old blog post by the company on popular blogging platform Medium, Hashed expressed his excitement about working with Terra and explained why they chose Blockchain.
As the blog post suggests, Hashed believed that Terra could offer the best blockchain services in South Korea:
“Terra has created a decentralized stablecoin that reflects the universal characteristics of existing fiat money systems.”
According to the information in the local media of South Korea, over 200,000 investors in the country have invested in Terra-linked tokens. Yoon Suk-Yeol, the newly elected president of South Korea, is known to be pro-crypto money.
*Not investment advice.