### 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 attacker initiated over 70,000 failed transactions from multiple addresses, causing network congestion and using bot trading to hinder Terra's efforts to restore the UST stablecoin's peg. The attacker may have profited from arbitrage opportunities, while the true orchestrator remains at large. Although Do Kwon faces extradition to the United States, the truth behind the Terra collapse remains under investigation.
Ace Hot Topic Analysis
Analysis
The mastermind behind the Terra collapse remains elusive. Jacob Gadikian, founder of Notional Labs, suggests that the crash of Terra's algorithmic stablecoin may have been a coordinated attack orchestrated by an unknown third party. The attackers launched over 70,000 failed transactions from multiple addresses, causing congestion on the Terra network and preventing the recovery of UST's dollar peg. Flipside data reveals a sixfold surge in on-chain transaction volume during UST's de-pegging, with a significant number of bot transactions exacerbating network congestion. Gadikian also showcased a video of a Cosmos hub security testnet under attack, mirroring the circumstances surrounding UST's de-pegging. Despite Terra founder Do Kwon facing extradition to the United States, the true orchestrators remain at large, and the truth behind this incident awaits further investigation.
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 trades 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 node memory pool.
Terra's collapse was not solely caused by Do Kwon, the real mastermind is still at large.