The Terra Classic community is up in arms against Karak Network, a company backed by Coinbase and Pantera Capital, alleging that it has stolen 200 million USTC (now worth millions). The community claims that Raouf Ben-Har, co-founder of Karak Network, stole the funds while operating under Risk Harbor, which has since rebranded to Andalusia Labs.

The controversy resurfaced when RedlineDrifter, a Terra Classic developer, raised questions about the missing funds. The community believes that Karak Network has not returned the USTC, which belongs to them. Victor Cheng, CSO at Karak Network, has denied the allegations, stating that no user funds were touched and that the foundation sold UST for pennies on the dollar.

The Terra Classic community has been working to remove 93 million LUNC and 87 million USTC from circulation through the Terra Shuttle Bridge (BSC) contract. Meanwhile, the price of USTC has dipped by 1% in the last 24 hours, trading at $0.01808. LUNC, on the other hand, has seen a 1% increase, trading at $0.00008329. The community expects a significant recovery in prices after Binance's LUNC burn and Tax2Gas implementation in July.

The allegations against Karak Network have sparked a heated debate in the cryptocurrency community. While some believe that the company is responsible for stealing the funds, others argue that the community is making false accusations. The incident highlights the need for greater transparency and accountability in the cryptocurrency space.

In conclusion, the Terra Classic community's accusations against Karak Network have raised important questions about the safety and security of funds in the cryptocurrency space. As the community continues to seek answers, it remains to be seen how this controversy will unfold and what implications it will have for the industry as a whole.