Validator Terra has reportedly decided to freeze the Terra blockchain because the Luna market price collapsed. The team believes that at a low cost, whale buyers can easily carry out governance attacks on the network.

The chain was officially frozen in the 7,603,700 block, making the original transaction in the Terra blockchain impossible.
Terra (Luna), which has experienced a collapsed price of more than 99% in the past week, also functions as a protocol governance token.
Governance token allows holders to surrender and vote on governance proposals related to the increase in the blockchain protocol.
However, if someone gets control of more than 50% of the supply of governance token, he theoretically can change the protocol in an evil way. Fortress Protocol was beaten by such an attack last week when a hacker effectively bought governance at a price below $ 20,000.
At present, Luna has a supply circulating around 3.45 billion. Trading is only one cent, half of the supply will cost only a few hundred million dollars divided between several rich collaborators.
The collapse of Terra is mostly caused by destabilization of the Ust peg to the dollar, which causes the conversion of Ust for Luna en mass.
The price of coins is now less than that during ICO, which means the initial investor is now under water if they hold their position.
In the midst of a wider panic of stablecoin, even tether began to lose his previous pegs today, although not at the same level as Ust.