As can be seen from the results, LUNA Classic has the highest amount burned (35.4B). Next are Chihuahua (834.4M) and Cerberus (812.4M). The collapse of LUNA-UST triggered the huge volume of burning amount in various token. TerraUSD was a stablecoin, which meant that its value was supposed to remain constant at $1. However, it fell below $1 and continued to fall, while Luna tokens, which had once been valued more than $100, plummeted to less than a penny, effectively wiping out a combined market value of more than $60 billion. There is a domino effect. After Terra, Luna crashes, regulators count cost of crypto. Spectacular collapse of stablecoin puts focus on regulatory frameworks in South Korea and other countries. South Korean authorities launched an “emergency investigation” into the case about LUNA.