Binance misses November Luna Classic burn for first time since 2023

The exchange's monthly LUNC burn did not arrive on November 1, and Binance has not explained why Since 2023, Binance has burned Luna Classic tokens on the first of every month. On November 1, nothing happened. It is the first time the exchange has skipped the burn since the program started. For a community that treats the monthly event like a paycheck, that is an unwelcome surprise. Binance has not said whether the program is paused, cancelled, or simply running late. That silence has left Terra Classic holders doing what crypto communities do best: refreshing block explorers and guessing. What was supposed to happen The mechanics are simple. Binance collects trading fees on LUNC pairs, uses them to buy back LUNC, and sends those tokens to a burn address where nobody can ever spend them. The most recent confirmed burn landed on October 1. That batch removed approximately 334.87 million LUNC, drawn from the previous month’s trading fees. November’s batch never showed up. By November 3, community burn trackers had recorded no transaction matching the expected burn. One prominent community member has offered an explanation. The claim is that Binance is relocating its LUNC holdings to ...