Today, Coindesk published an article explaining that the token`s death spiral was mainly caused by Terra`s developer-related wallet transaction activity. However, a clear motive for this activity has yet to be determined.
Previously, an analysis by UppsalaSecurity, a Korean blockchain analysis company, has been completed, showing that the Ethereum address known as "Wallet A" in the survey report helped promote UST to get rid of the expected peg between the price and the US dollar.
According to the report released by the analysis company Terraform from the encrypted lending platform "Curve" to clear the working capital pool of more than 150 million U.S. dollars, "Wallet A" will convert more than 86 million U.S. dollars into USDC.
DoKwon, founder of LUNA, a lot of big players in the crypto industry and the project, expressed his opinion. One such person is Qian An's. CEO Zhao Zhanpeng (CZ), who actively blamed the project as well as the founders.
According to our analysis, this report is wrong. Terra defended, and I severely criticized them. Just pointing out a mistake. Cunningham's law. The address in the article doesn't seem to belong to Terra.
However, CZ recently tweeted that because Coindesk reported incorrectly, "Wallet A" may not in fact belong to Terraform Labs. CZ he's quick to point out that he's not defending Terra, he's just there to "point out a mistake".
