Notional Labs CEO: The Terra crash was triggered by an anonymous attack, Do Kwon is not to blame
According to Bitcoin.com, Notional Labs CEO Jacob Gadikian recently stated that the collapse of Terra and the decoupling of UST was not caused by founder Do Kwon, but originated from an anonymous attack.
Gadikian said that the attackers damaged the Terra blockchain in an attempt to disrupt UST's $1 peg and profit through arbitrage. Gadikian also pointed out that during the attack, hundreds of validators were manipulated.
Other investigators agreed with Gadikian's view. They noted that during the decoupling period, trading volume on this chain increased sixfold due to bots. The attack was orchestrated by several addresses with over 70,000 transactions made but all failed. This led to network congestion as validators could only store 5,000 transactions in their memory pool.
Despite Do Kwon being extradited to America for fraud charges, Gadikian believes that those truly responsible have yet to be revealed.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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