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1) I researched for you how the #LUNA #UST event, which scared everyone, happened
-The team planning the attack collected 1 billion UST as OTC
- Borrowed $3 billion worth of #BTC
-A pre-attack FUD study was initiated, people holding $UST panicked
-The team planning the attack collected 1 billion UST as OTC
- Borrowed $3 billion worth of #BTC
-A pre-attack FUD study was initiated, people holding $UST panicked
2)-Things sparked when the team started selling their $3 billion worth of #Bitcoin
-After the start of the selling wave in #BTC, they expected LUNA to draw liquidity from Curve and thus the attack began
-All liquidity in Curve pool cleared by $350 million UST
-After the start of the selling wave in #BTC, they expected LUNA to draw liquidity from Curve and thus the attack began
-All liquidity in Curve pool cleared by $350 million UST
3)- After the Curve side was cleared, the team switched to Binance and started draining their $USTs, causing #USTUSDT to drop sharply below 1.
-Meanwhile, the Terra market module was trying to maintain the UST balance by staying true to its algorithm.
-Meanwhile, the Terra market module was trying to maintain the UST balance by staying true to its algorithm.
