Com2uS XPLA: From Terra's Collapse to FTX and Oasys

Within six months in 2022, Com2uS lost the chain it had built on and then saw a third of its new token locked in a collapsing exchange. How the Korean mobile veteran kept its blockchain alive, and where it stands now.

Some companies have bad luck with crypto. Com2uS had bad timing twice in one year. In May 2022, the blockchain its game platform ran on, Terra, collapsed in one of the biggest crashes in crypto history. Six months later, on 8 November 2022, it moved its brand-new token onto a new chain at the exact moment the exchange FTX began to implode. About 32 million tokens ended up stuck there.

The company behind Summoners War survived both. Its story is a useful reminder that blockchain gaming risks are not only about game design: sometimes the ground simply disappears beneath you.

Built on Terra

Com2uS is one of Korea's oldest mobile game makers, and its Summoners War: Sky Arena is a global hit with more than 220 million downloads. When the group moved into blockchain, it launched a platform called C2X, built on Terra, a network that was then one of the most popular chains in Korea and around the world.

Then Terra's algorithmic stablecoin, UST, lost its peg in May 2022, and the LUNA token went with it. Days later, Com2uS Group said C2X would also leave the Terra network. On 14 June 2022, it announced it would build its own mainnet, aiming for August, using the long-established Tendermint engine. A company official said the move would give the platform "firmer independence and broader scalability".

XPLA is born

On 9 August 2022, C2X and Com2uS announced the launch of the new chain: XPLA. It was built with the Cosmos SDK on Tendermint, started with nine genesis validators (the computers that confirm transactions), and its development was led by the companies Delight and ZenaAD. C2X's governance token would be upgraded to become XPLA, the main coin of the new network.

The plan was broad. XPLA was meant to be a home not only for games but also for music, art and other digital content, a "content platform" rather than just a game chain. Com2uS's own titles, including the blockchain version of Summoners War: Chronicles, were connected to it.

The FTX night

The migration from C2X to XPLA had originally been scheduled for 21 October 2022. Com2uS later said that FTX kept changing the schedule. The swap finally happened on 8 November, the day after Korean media were flooded with reports about FTX's liquidity crisis. At about 11 pm, records on the XPLA Vault wallet showed 32 million freshly converted XPLA being transferred to FTX.

Within days, FTX froze withdrawals and collapsed into bankruptcy. As of mid-December 2022, those 32 million tokens, about 35% of the 91 million XPLA then listed as circulating on CoinMarketCap, were locked inside a bankrupt exchange.

A new home on Oasys

Com2uS did not give up on blockchain. In 2023 it joined Oasys, a Japanese gaming blockchain, as one of its initial validators. In February 2024 it said it would bring its XPLA gaming ecosystem to Oasys, and by May 2024 it had launched XPLA Verse, its own layer-2 network (a faster chain that runs on top of a main one) inside the Oasys ecosystem. Summoners War: Chronicles and The Walking Dead: All-Stars moved there first. Com2uS said it wanted to use Oasys's knowledge of Japan's rules to reach more players in East Asia.

As of 12 November 2026, the token listed on CoinGecko under XPLA's original page now carries the ticker CONX and describes itself as a "cultural fintech" layer-1 network. Its market cap was about $4.6 million, roughly 99.7% below its all-time high of about $1.40.

Why it matters

Com2uS's two-step stumble shows a risk that players rarely think about. When a game puts its economy on a blockchain, it ties itself to that chain's fate and to the exchanges where its tokens trade. Com2uS did nothing wrong in the Terra crash and was caught by FTX's timing, yet both events shaped its blockchain business more than any game it released.

The company has since moved toward the more cautious model many publishers now favour: a games-focused chain, run with established partners, kept away from the centre of its biggest titles. Summoners War: Sky Arena itself, the game that made Com2uS famous, has never needed a token to keep its players.

Token prices are volatile; this article is not investment advice.