The "boomerang" incidents in WEB3. one ⃣ Terra/Luna Thunderstorm and Do Kwon's Escape (May 2022) Event Overview: The Terra ecosystem's stablecoin UST and token LUNA are hailed as DeFi stars, claiming to maintain a $1 anchor through algorithms. In May 2022, UST lost its anchor, LUNA's market value dropped from $40 billion to zero, founder Do Kwon fled, and was arrested in 2023. Boomerang point: Do Kwon claimed that "UST is an impeccable stablecoin", but due to algorithm flaws, the ecosystem collapsed instantly.