### Terra Crash Mastermind Exposed#
Hot Topic Overview
Overview
The mastermind behind the Terra collapse may not be Do Kwon alone, but an unidentified third party. Jacob Gadikian, founder of Notional Labs, pointed out that the attackers launched a coordinated attack through multiple addresses, causing a sixfold surge in Terra blockchain transactions and using bot trading to hinder UST from regaining its dollar peg. The attackers also generated over 70,000 failed transactions, leading to network congestion. Currently, the real culprits remain at large, while Terra founder Do Kwon faces the risk of extradition to the United States to face charges.
Ace Hot Topic Analysis
Analysis
The mastermind behind the Terra collapse has been exposed, with Notional Labs founder Jacob Gadikian pointing out that the crash of the Terra algorithmic stablecoin was not solely the work of Do Kwon, but rather a carefully orchestrated coordinated attack by an unknown third party. The attackers used a large number of bot trades to increase on-chain transaction volume by 6 times during the UST de-pegging, preventing Terra from restoring the UST dollar peg through its economic model. The attackers initiated over 70,000 failed transactions from a small number of addresses, causing congestion in the validator node memory pool, ultimately leading to the UST de-pegging. Gadikian also showcased a video of the Cosmos hub testnet being attacked, which closely mirrored the situation during the UST de-pegging. While the investigation continues, the real culprits remain at large, while Terra founder Do Kwon faces the risk of extradition to the United States to face charges, accused of orchestrating a fraud that resulted in nearly $50 billion in losses.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Terra's collapse may have been caused by a coordinated attack orchestrated by an unknown third party.
The attackers used a large number of bot transactions to prevent Terra from restoring the UST dollar peg through its economic model.
The attackers initiated over 70,000 failed transactions from a small number of addresses, causing congestion in the validator nodes' memory pool.
Terra's collapse was not solely caused by Do Kwon, the real mastermind is still at large.