UST was supposed to be a stable coin fixed (peged) at 1$.
It is now worth only 0.38$. Needless to stay that many investors, some of them risk averse with a choice to hold 'stablecoin' and avoid volatility in the market. A disaster for UST, Terra Luna, their investors and the Crypto market all together.
Sad... but how did it all happen?
How to make a >800 million dollars in crypto attacking the once 3rd largest stablecoin, Soros style:
Everyone is talking about the UST attack right now, including Janet Yellen. But no one is talking about how much money the attacker made (or how brilliant it was). Lets dig in🧵