Only 7 Crypto Wallets May Be Behind the Demise of LUNA and UST »Crypto Insiders

Nansen, a leading encrypted data analytics company, recently released a file special report brought outside. The report states that the demise of TerraUSD (UST) stablecoin It can be traced back to a handful of cryptocurrency wallets. These wallets withdrew massive amounts of underground treasuries on the eve of one of the darkest chapters in the history of the cryptocurrency industry.

UST . Nansen Report

Nansen tracked seven crypto wallets that withdrew large amounts of terrestrial deposits via the Curve platform on May 7, before the demise of both UST and Terra (LUNA).

The “seven” novice wallets exchanged large amounts of terrestrial treasuries for other stablecoins on Curve early on the night of May 7. These seven wallets acquired large volumes of terrestrial deposits from the Anchor protocol on May 7 and earlier (early April) and linked UST to the Ethereum blockchain via Wormhole. “

Nansen even mentioned that the people behind these cryptocurrency wallets were not good. The report argues that they may have been looking for price weaknesses between decentralized and centralized cryptocurrency exchanges such as Petavavo† This may cause the connection earth reservoir to be disconnected as well wedgewith the loss of the US dollar.

“Of these seven wallets, six interacted with central exchanges to send more floor deposits (allegedly for sale) or, for a subset of these wallets, to send USDC tokens (USDC) swaps from Curve’s liquidity pools.”

Intent in the game?

When the peg between the floor treasuries and the US dollar was broken, the wallets were working hard to take full advantage of the floor treasury price difference across the various exchanges. Since this is a group of actors, Nansen also rejects the theory that a single “infiltrator” carried out a successful attack on the ground tanks.

The Nansen Report is not a tender. It gives substance to Rumors That there may have been a deliberate intent to see Terra Network’s demise.