My LUNA disappeared from Binance
This is one of the reasons why we shouldn't be trusting an exchange. But yeah this situation is somewhat unique and we cannot blame the exchange so much. Until yesterday morning, I was able to see my LUNA balance in my Binance wallet. I was happy that the price of Luna was pretty reasonable from what I bought it for. It has now become a practice for me to keep looking at the price every day.
Today I read it somewhere that they have decided to split the chain and call the old one, LUNA classic and the new one is going to be the actual LUNA for the future. Even though both the chains will be Cosmos chains, the branding will be moving to the new chain. All the information about this change is available on this page.
https://docs.terra.money/docs/migration/exchange-migration.html
They have a decent document explaining this migration activity. I was clear with all these but then I was again wondering what would happen to the LUNA I was holding on to Binance. Unfortunately, Binance suspended trading and withdrawal for LUNA. It was not good but I was still thinking that my purchase was safe from what I read, the price of the new LUNA and old LUNA can be different and there is a high chance that the old LUNA will no longer be valuable. More information about the airdrops and support is available in this article by Binance.
https://www.binance.com/en/support/announcement/c52fa3c686be4b2b9d5df50de15847ec
Even though I did not expect this to happen, it is quite sad to see my investment going to waste. I was so excited to have purchased about 555555 LUNA when the price was cheaper. Many people also had the opportunity to book some profits by making swing trades. I did not do any trading but just held those tokens on my exchange wallet. Anyways, I don't think I would have any hard feelings if the value of these old LUNA tokens goes further down and vanish. My investment was only experimental. Hopefully, this shouldn't affect anyone who invested a huge amount after the crash.
I personally think this decision to split the chain might be a good one for the investors who lost their funds. I also know someone who had their investment value reach 700$ from 18,000$ because of UST. There are so many people who got affected. Hopefully, this should help them recover their investment back. Let's see.
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did you check under cluna, they've changed the name and it had no value but mine is still there, check again