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
Prisma Finance Exploited for $12M Prisma Finance Exploited for $12M
Major Security Vulnerability Found in Ledger Software Library, Affecting Multiple Dapps Major Security Vulnerability Found in Ledger Software Library, Affecting Multiple Dapps
Security Audits are "Not Enough" as Crypto Hacks Losses Topped $1.5B in 2023 Security Audits are "Not Enough" as Crypto Hacks Losses Topped $1.5B in 2023
Decentralized Exchange KyberSwap Suffered $46 million Hack Decentralized Exchange KyberSwap Suffered $46 million Hack
HTX Exchange Loses $13.6M as part of the $87M HECO Bridge Exploit HTX Exchange Loses $13.6M as part of the $87M HECO Bridge Exploit
Latest News More More
6 Hours Ago ZKasino Unilaterally Locks $33M of User Funds for 15 Months, Sparking Widespread Anger
7 Hours Ago Bitcoin Fees Fall Sharply After Hit the Historically Record on the Havling Day
3 Days Ago DA Project Avail Confirmed Token Airdrop Plan
3 Days Ago Tether to Launch New Businesses, Tether Data, Tether Finance, Tether Power, and Tether Edu
4 Days Ago Lido Finance Implemented Simple Distributed Validator Technology (DVT)
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open