FatMan: Report of Terra's Collapse Being Inside Job Is Not True

Member of the Terra Research Forum FatMan tweeted that previous reports from CoinDesk Korea that the Terra crash was an inside job were not true. The article concluded that Terra's Binance account (that got an initial deposit from LUNC DAO) is linked to Wallet A, the Curve UST dumper, because it also transacted heavily with LUNC DAO. But they ignore the fact that that is not LUNC DAO's wallet, but KuCoin's hot wallet. The two addresses cannot be linked simply because they accept KuCoin money, which only proves that they are both KuCoin users. Previously, according to CoinDesk Korea, the wallet, which caused a fatal blow to Terra and was pointed out as an attacker, was actually managed by Terraform Labs. It means that Terra's collapse was possibly caused by internal actions. It's said that the Korean prosecutors have confirmed the situation and are investigating it.
Source

Terra

Security Incidents

In This Article

Related News
North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
Bybit hackers move over half the stolen ETH onto Bitcoin, largely using ThorChain Bybit hackers move over half the stolen ETH onto Bitcoin, largely using ThorChain
Stablecoin neobank Infini exploited for $49 million: security analysts Stablecoin neobank Infini exploited for $49 million: security analysts
NoOnes CEO Ray Youssef discloses $8 million exploit weeks after the fact, confirming crypto sleuth ZachXBT's investigation NoOnes CEO Ray Youssef discloses $8 million exploit weeks after the fact, confirming crypto sleuth ZachXBT's investigation
Avalanche buys back $53M of AVAX tokens from Terra’s LFG Avalanche buys back $53M of AVAX tokens from Terra’s LFG
Latest News More More
58 Minutes Ago TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
3 Days Ago Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
4 Days Ago JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
June 30 Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
June 25 Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open