Cryptocrash Great LUNA Coin Disaster !!

 Great LUNA Coin Disaster!!

Great LUNA Coin Disaster!!

How the attacks on $UST and $Luna were organized and executed

Initially, the attackers purchased approximately $1 billion USD. After that, 3 billion dollars were borrowed, which would be approximately 75k, at rates between 40-38 thousand dollars. After the purchase, reports and tweets were published aimed at questioning the ability of the Luna Foundation “LFG” to maintain their fixed currency in the event of a market decline. - After spreading these rumors, the attackers opened shorts on Bitcoin and carried out high and continuous selling, the market with the amounts they borrowed ~ 3Bn$. - At one point and only 10 minutes after Luna Corporation withdrew some cash from Curve's liquidity pool in preparation for some attacks, the attackers pounced on them. The attackers emptied Curve's liquidity pool with ease - they only needed $350 million to do so. - After the pool was emptied, they sold their quantity of what they had previously bought from $UST on the Binance platform ~ about 1 billion dollars, forming strong selling pressure on it, as we noticed yesterday. - In fact, the linkage model between $Luna and $UST is designed and maintains the $1 level only if there is $4 billion in liquidity in the Curve Basin, not $350 million!! -People started panicking when it was discovered that $UST could no longer maintain the $1 level and bitcoin was also falling violently. Luna Foundation would have to sell its bitcoin reserves to rebalance $UST - This is exactly what the attackers wanted when they opened shorts on Bitcoin at the price of 40k. - Luna Foundation has already sold 42,000 BTC in the market to maintain UST and the reserves have been completely emptied. - The price of Bitcoin is constantly falling due to panic. In addition to the sale of Luna reserves, UST is also suffering from selling pressure from the attackers. The system was paralyzed and fear spread among traders, which made some platforms stop trading UST below $0.70, led by the Binance platform. - The Luna Foundation understood what was happening and stopped selling from the rest of the basins such as the “AVAX” basin, and they left UST to recover its value from people buying it and not being able to sell it below $0.70. There are rumors of agreements already in place between market makers and platforms to stop the $UST debacle. - All this would not have happened if the basins were properly filled with 4 billion dollars and not withdrawn and only 350 million dollars were kept! - The timing of the attack 10 minutes after the draw was not a coincidence. This morning, Janet Yellen - US Treasury Secretary - appeared and reported what happened to $UST and that stablecoins are constantly growing and ways must be found to regulate them!
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