South Korean Exchanges Warn LUNA Investors as UST Collapse Mirrors TITAN Saga

-LUNA has been designated as a cautionary item by the South Korean cryptocurrency exchange UpBit.
-This is due to the recent loss of its peg with the US dollar by the Terra project’s flagship stablecoin, UST.
-Bithumb has also issued a warning to its investors about LUNA, designating it as an “Investment Warning Item.”
-According to the crypto analytic platform IntoTheBlock, the number of transactions has reached a new high, representing a massive 13x increase against the previous two days.
-This is due to investors rushing to sell their UST positions.
-Andr Nakano de Melo, the CEO of TITANDAO, has highlighted the current problem with UST and LUNA.
-He also went on to add that “exchanges need to stop the outflows as they might not have enough tokens (UST and LUNA) for all traders that want to withdraw.”
-The collateral damage on LUNA for UST’s significant deviation was epic.
-According to Melo, LUNA is following a similar death spiral as TITAN.