TechFlow news — Terra community researcher FatMan tweeted that the previous CoinDesk Korea report claiming the Terra collapse was an inside job is inaccurate.
The article concluded that Terra’s Binance account (which received deposits from LUNC DAO) was linked to the Curve UST sell-off wallet because it conducted significant transactions with LUNC DAO. However, they overlooked the fact that this was not actually an LUNC DAO wallet, but KuCoin’s hot wallet. Two addresses cannot be associated solely because they both received funds from KuCoin; this only proves that they are both KuCoin users.
According to earlier reports, the wallet behind the "attack" that fatally impacted the algorithmic stablecoin TerraUSD (UST) was managed by Terraform Labs. This would imply that the Terra crash, which caused tens of trillions of Korean won in investor losses, was not an external attack but rather an internal act. It is reported that South Korean prosecutors investigating the Terra incident have confirmed this scenario and are continuing their in-depth investigation.
