### Terra Crash Mastermind Exposed#
Hot Topic Overview
Overview
The mastermind behind the Terra collapse remains unclear, with Notional Labs founder Jacob Gadikian suggesting that the crash of Terra's algorithmic stablecoin may have been the result of a coordinated attack. Attackers initiated a large number of transactions from multiple addresses, leading to network congestion and hindering Terra's ability to restore UST's peg to the dollar. Gadikian also showcased a video of a similar attack on the Cosmos Hub security testnet, further supporting this theory. While Terra founder Do Kwon faces extradition to the United States, the true orchestrators remain at large.
Ace Hot Topic Analysis
Analysis
The mastermind behind the Terra collapse remains unclear, but Jacob Gadikian, founder of Notional Labs, suggests it could have been a coordinated attack. Attackers initiated numerous transactions from multiple addresses, causing congestion on the Terra network and preventing the recovery of UST's dollar peg. Gadikian also presented a video of a similar attack on the Cosmos Hub testnet, further supporting this theory. 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. While Terra founder Do Kwon faces extradition to the US, the true orchestrators remain at large, and the truth behind the 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 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.