> What was initially thought to be a market-triggered event turned out to be a clear case of fraud, with former CEO Kwon at the epicenter. According to on-chain data, In the 3 weeks leading up to the depeg of the TerraUSD (UST) stablecoin, one entity dumped over $450 million of UST on the open market. Four days after the last sale, UST started collapsing. The entity behind the massive dump was none other than Terraform Labs.
> What was initially thought to be a market-triggered event turned out to be a clear case of fraud, with former CEO Kwon at the epicenter. According to on-chain data, In the 3 weeks leading up to the depeg of the TerraUSD (UST) stablecoin, one entity dumped over $450 million of UST on the open market. Four days after the last sale, UST started collapsing. The entity behind the massive dump was none other than Terraform Labs.