A blockchain security company has accused the founder of the Luna cryptocurrency of the project’s collapse

The address believed to be responsible for the fatal Terra transaction belongs to Terraform Labs. This means that the crash was caused by internal actions, not external attacks, as previously thought.

This is reported by CoinDesk Korea, which, together with Uppsala Security, is investigating the events that led to the Terra collapse.

We are talking about the address 0x8d47f08ebc5554504742f547eb721a43d4947d0a, which is referred to as «Wallet A». In order to find its owner, the experts analyzed the transaction history.

It turned out that on May 7, the day the stablecoin was depreciated against the dollar, 150 million UST were withdrawn from the Terra DeFi ecosystem. UST were withdrawn from the Terra DeFi ecosystem to maintain liquidity. Of these, 85 million. UST were exchanged for USDC, and the remaining tokens were sent to various crypto exchanges around the world. This accelerated the unpegging of UST, after which the liquidity drain began by a wide range of ordinary holders.

Many analytical companies have previously pointed to Wallet A as the attacker’s address, which allegedly belongs to a Wall Street financial company.

It was also discovered that a large number of USTs to Wallet A were sent from the address terra1yl8l5dzz4jhnzzh6jxq6pdezd2z4qgmgrdt82k — referred to as «Wallet A (T)» — to Wallet A. At the same time, it became known that A (T)-wallet was constantly sending UST to Binance — Do Kwonis now accused of withdrawing TFL funds to crypto exchanges.

Other addresses were involved in the scheme, and experts tracked the course of transactions. They concluded that these addresses were owned by one person or an organized group, whose actions contributed to the collapse of Terra.