FatMan, a member of the Terra Research Forum, who has been acting as the whistleblower for the Terra community, has berated the extensive research reportedly conducted by Uppsala Security, a chain analysis firm, in collaboration with CoinDesk Korea, to dig deeper into the major cause of the crash of the Terra ecosystem.
The report published by CoinDesk Korea showed that a wallet linked to Do Kwon’s Terraform Labs (TFL) and Luna Foundation Guard (LFG) directly or indirectly initiated the liquidity crisis on Curve Finance, which led to the depegging of TerraUSD (UST) and the crash of Terra (LUNA).
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According to FatMan, the report suggests that Terraform Labs intentionally caused the de-pegging of TerraUSD (UST). He said this is indeed not the case, concluding that the research report is total nonsense.
FatMan tweeted, “CoinDesk Korea just released the bombshell revelation that the wallet behind the UST depegging is actually owned by Terraform Labs. If true, this would mean TFL intentionally caused the depegging. But it’s not true – it’s total nonsense.”
CoinDesk Korea just released the bombshell revelation that the wallet behind the UST depegging is actually owned by Terraform Labs. If true, this would mean TFL intentionally caused the depegging. https://t.co/FPvEYjuuq1
But it's not true – it's total nonsense. (1/4)
— FatMan (@FatManTerra) June 14, 2022
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