<p>With its native token LUNA and stablecoin UST in freefall, Terra says it has halted its blockchain for the second time in 24 hours.</p> <p>In <a href="https://twitter.com/terra_money/status/1524935730308456448?t=x5tLSJgJ5hUtdX59rs2sQA&amp;s=19">a tweet</a> posted at 10:13pm Eastern Time, Terra said its blockchain “has officially halted at block 7607789.”</p> <p>“Terra Validators have halted the network to come up with a plan to reconstitute it. More updates to come,” it continued.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">The Terra blockchain has officially halted at block 7607789.<br /> <br /> Terra Validators have halted the network to come up with a plan to reconstitute it. <br /> <br /> More updates to come.</p> — Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) <a href="https://twitter.com/terra_money/status/1524935730308456448?ref_src=twsrc%5Etfw">May 13, 2022</a></blockquote> <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> <p>The blockchain was <a href="https://www.theblockcrypto.com/post/146615/terra-blockchain-halted-to-protect-against-possible-attack">first paused</a> on May 12 over fears that it had become vulnerable to attack. Developers at Terra then announced at 2:05pm ET that block production had resumed, albeit with staking disabled. </p> <p>The crisis at Terra was triggered when its algorithmic stablecoin UST de-pegged from the US dollar. It now sits at around $0.19, <a href="https://www.binance.com/en/price/terrausd">per Binance data</a>, despite frantic efforts to restore the peg by issuing huge volumes of LUNA.</p> <p>The circulating supply of Luna (LUNA) <a href="https://www.theblockcrypto.com/post/146590/luna-token-supply-hits-25-billion-up-by-nearly-24-billion-today">topped 25 billion</a> on May 12, with minting reaching unprecedented levels as Terraform Labs CEO Do Kwon and others try to ease UST selling pressure.</p>