Pre vs Post Attack Holders — The “True Believers”

Whatever direction is taken. I think it’s important to dispel this particular sentiment regarding pre-attack and post-attack holders. Particularly that the former is somehow more valuable than the latter to the community (and thus should be treated with bias in any redistribution scheme).

Let’s address who these people were. Pre-attack UST holders — a profit seeking crypto investor like any other, only the least risk-tolerant type of crypto investor. Saw a sign that said “20% apy on stable!”, and decided to dump all or a significant portion of their networth into a single “safe” protocol. Setting themselves up to be extra ripe for manipulation.

These are the so-called “true believers” of the project. LOL! these are the people who BAILED at the first sign of stress, and caused this whole disaster in the first place!! At the first sign of scraping they DIVED over board, while dip buyers were actively attempting to patch the holes! Sorry to be harsh, but each and every one of you who dumped after the initial depegging locked in your own loss and cemented the projects demise, by going into a selfish panic, revoking and liquidating your assets while making it even worse for the next guy after you. Hence the “spiral”.

No attacker “made” the tokens tank — it was YOU people! All the attacker did was manipulate your fickle, overextended, risk-averse nature. He finessed the NON-believer in all of you.

Now let’s talk post-attack buyers. The people who bought all the way down… who were still buying at the bottom… and still buying now. THOSE are the believers! It takes 1000x the belief to think a sinking, and then apparently sunken ship can rise and sail again. Than it does to only “believe” when the sailing is 100% smooth. Up until it stops being so.

This situation has been terrible in many ways, but one of the only good things to come from it is the attraction of this new type of #LUNAtic to the ecosystem. These are your long haulers. These are your token hoarders, instead of instant mint dumpers. These are the people who would balance out the next panic with their speculative buying.

THESE are the people you WANT in your project. Especially to balance out the type your project initially attracted. You should welcome them. You should welcome with open arms anyone new to your ecosystem at this point, to be frank.

The last thing you want to do, is immediately alienate them… appear to go out of your way to intentionally subvert their speculation… all to appease a few bitter, fickle souls, who caused this whole calamity they’re presently in, in the first place.

In the end this is no different than any other market activity. A seller and a buyer meet, one betting the other is making the less favorable exchange.

The sellers made their trade decision. They were desperate to sell to these very buyers on the way down, frantically, happily shoveling their tokens over to them in bulk. Taking the project down with them. Now there is supposed to be some sort of sympathy for them, and disdain for those they sold to? Because they now feel some type of way about their decision? Or ongoing decision not to buy the bottom as well, since the price has stabilized? Who is stopping them from still buying now?

They, the sellers, the pre-attack holders, are the reason the price tanked so low. They literally were the ones who sold to these very buyers that they now resent. …I’m trying to imagine being bitter at someone for literally taking the offer I provided to them. For purchasing the assets I scrambled to dump onto them, thinking they were worthless. For missing the deal that I was on the wrong side of. And now feeling entitled to certain treatment over them, because of the deal that I presented, while drunk with panic, of which they calmly obliged.

This type of skewed value and biased sentiment should seriously be reconsidered during these path forward deliberations. If the intention was to preserve previous ownership ratios, then a public notice or snapshot warning should’ve gone out, or trading should’ve been halted altogether. Not “hold on guys, this ain’t over til it’s over, keep the faith” type tweets.

Instead of being preoccupied with such ratios, maybe the concern should be making the previous UST holders whole, in relief dollars, while also making any new members to the community feel welcome and appreciated as possible. Not slighted upon entry.


Well put.


Very nice story man, tell it to your naive friends but not to us who have been in LUNA for some time and can spot the BS.

Old buyers bought at different levels of LUNA price but the peg was always there (except in May 2021). These were investors who could see the project working but just buying at different LUNA prices.

Those who bought when there was a clear depeg but didn’t have any position pre-depeg are just speculators. If LUNA price was down a lot but the peg was still present then fair enough, I would say well done. But the depeg was clearly set and so NO ONE would ever enter at that time for the first time. Some old buyers maybe added more but because they were already involved.

If you have a products that has been there for 2 years and it suddenly start breaking, would you buy it at that time while you had opportunities to buy it when it was working before? Of course not.

So let’s stop this, there is no need for division. We know who is who, whatever the people on the forum say. I understand your post since you need to defend your failed speculation. You tried, maybe it will still work one day, sorry for your losses.


Everyone in this project is a speculator. The difference is that only one set are being selfish!

Also, UST xame after LUNA so your point is MOOT.


Yep, you’re seeing clearly. Just like the ust buyers at 0.05 or 10 cts: hopefull speculators, nothing else. Buying a falling knife is pure reckless speculation. No relief fund should reward this at least on the ust side, pre depeg only and sell difference with tx history.

The Luna buyers though, they were kinda invited to buy but those that didn’t have any prior debacle are just speculators.

I didn’t know that was a “belief” and I was signing up for a church of Do.

When I go to a bank/broker/whatever I strangely don’t think I’m in church.


I’ve been an investor of Luna for over 9months but i tripled my steak on the 9th may, when Luna was still above $60.

But seems like people that invested on the 8th or 9th are completely written off in most proposals.

When did the depeg exactly occur ?

Also why is the date for pre attack the 7th ?

Everything went down in the 9th thats when everything came crashing down.

The whole situation is horrendous not sure how they will fix this if thats even possible at this stage


Everyone’s point of view is unique as their fingerprint. What I understood from my life Blame Games are a continuous and never-ending process.

1 Like

Very well said. No offence meant to any pre attack holders, but i believe that the post attack buyers actually helped stabilize the price. Just imagine if no one would have purchased after attack, LUNA would be somewhere in .000000000000 and dead.

Both the pre attack buyers and post attack buyers have their own contribution towards LUNAs success at all price points. Both the groups should be patiently heard.


I was on the sidelines…I was a prior LUNA holder…had sold April 29 because I was concerned about a hell of a lot of LUNA being in the exchange. (It was never a normal site to see someone trying to flog 2000 LUNA.) On the 9th I had a limit buy on LUNA at 60 CAD (WHICH I THOUGHT WAS A JOKE because LUNA had NEVER dropped that much in a trading session.) I literary went to get a few things for dinner and when I came back that price had dropped from 84.5 CAD to 60! I was sucked into this drama from this point on. But what I witnessed next was something from a horror story.

Like I said, my LUNA buy triggered at 60 I scratched my head trying to figure out what was happening…the exchange was giving LUNA away for free as the highest price was 84.5 and was now trading at 50% of the last buy…that was 40 bucks! (I was in at 60 but the price bounced back almost immediately after my purchase.) I watched as 10000 LUNA suddenly appeared on the exchange undercutting the last highest price every time, then another 10000 LUNA came one the exchanges…each time for 50% cheaper…we couldn’t find a bottom no matter how many times we DCA.

No person would ever sell like that…sellers are the ones who are the price setters at the end of the day…and when buying LUNA normally there is nobody to undercut…it was a solid coin and the owners never let it go for cheap! But an algorithm hell bent on restoring UST doesn’t care what price…its only goal was to re-balance the equation no matter what. This was not right…its still not right. This is the failing of DO KON. He invented and programmed the aglo with no safeties in place. He was a total flop on the whole deal and now evidence is coming out that this was a manipulated move with direct intent to harm. If you let this go unanswered and they get away with it, then the next coin to be targeted could be yours!

Evidence is already coming out from everywhere how DO let his rich whales exchange UST for bitcoin at 1:1 when UST was already depegged at .60

LUNA funds being diverted to cover operating expenses…300 million for that one…gotcha DO

Evidence that you printed UST to trade for bitcoin is also coming to light…which DOthen sold and this also crashed bitcoin and UST price at the same time…and we all know that people were publicly shorting bitcoin and LUNA.

This smells so much of market manipulation; I was so happy to hear the Korean gov’t. has called DO KON in to testify as to why 2 out of 3 Korean exchanges halted trading on UST and LUNA but the other kept trading. Just enough time for DO KON to get his buddies out and make some backdoor deals…?

Keep it up all…this site has been invaluable to follow the money. I really hope my LUNA is going to go somewhere and UST can be reborn. This was always my favorite coin to buy!


A lot of Luna was purchased between $6-$10 and cheaper… That does not make one holder superior to the next… Believe me… a lot of holders were early on Luna and buy volume (less institutional money) was definitely low past the $25-$30 mark… for the most part… the majority of holders with big bags were early and late holders saw a good investment that delivered a double up and possible then some… Question… both early and new Luna holders aren’t any different because both bought at the bottom… in all actuality they are both here from the beginning… Start point is Zero regardless. The difference is the earliest holders enjoyed the meteoric rise of Luna, the new holder bought into the fallen product and held a hopeful perspective when it fell less than zero.


Pretty safe to say both sides are pretty selfish, this is why Do gets off scott free…we are too busy bickering with each other


I think selfishness or true believerness have nothing to do with recovery. Some points

  1. I have a background in tradfi, I invest in junk bonds, it is ok if junk bonds default, but I would be vety angry if there is a default and the company decides to compensate pre-junk bond holders instead of me. That would be illegal.

  2. If pre-attack UST holder sells, then no new buyer can buy. Every UST bought after attack comes directly or indirectly from some UST holder pre attack. Similar for Luna, it comes from UST or Luna holder pre attack.

  3. The common sense is that if a UST buyer buys UST post attack, he inherits all rights of claim from the UST seller. E.g. if a UST holder pre attack sold at 0.9, the buyer then sold at 0.5, then the new buyer sold at 0.1. The right of claim should be inherited to the last buyer. Otherwise, all these trades should be reversed, which is not possible.


What about those who lost their assets due to liquidation? They believed in the product so much that they leveraged things against Terra and Luna and still lost post attack.

1 Like

Please don’t do anything to to drive a wedge between UST holders (no matter when!) and new LUNA holders. I could write a book as to why—I’ll save it for now. Let’s just focus on opposing the current attempt to Are You Gee us with a hardfork—and on out-competing that with something more valuable.

By this point, I have a number of personal stories on both the UST and LUNA sides. You’ll appreciate this part, on the LUNA side—and note, I could get out at extremely high % profit now if I wanted short-term profits here:


Well said!

There seems to be an assumption that pre and post crash holders are different kinds of people. I was a pre crash holder. I had $12k in LUNA. That was 70% of my bag. When it all went down, I bought $1000 of LUNA and $2000 UST. I was literally watching the order book dry up in Binance. It was like there was only me and a few others in there. I had never held any UST before. I am not a staker. It was stated all around the web that that was a good investment because you would repeg it. Seemed sensible. Its what its supposed to do. I imagined it woulld repeg and that the LUNA would be worth something although I knew it was going to be pennies not dollars. I did not Stake my pre-peg LUNA and borrow UST to buy more LUNA like many did, that seemed irresponsible.

I spoke to my friends and said it was worth a punt and encouraged people to put an amount they could afford to lose on it. I said I am pretty sure that the Terra team will pull it back, they are supposed to be amazing.

When I woke up in the morning the price of both had gone up and I was $10k up on my investment. I don’t have much and ever since being in crypto it has done nothing but bleed me out in this bear market. It was nice to win for a change. Anyway those gains quickly evaporated. It was nearly gone by the end of the day.

Its been a poor show hearing that I am a heina, a vulture, someone to be despised just because I was on the ball, knew how the system worked and expected that if we all dive in with capital at these appealing prices the system would work how it is meant to. I had no idea of the shenanigans that would follow and its a pretty poor show.

Binance ceased trading and then resumed but only against BUSD. Its not clear to me why this is still available to buy and sell if it is a worthless asset. Are we just exit liquidity for you and your friends?

I have one question for the “believers”: If you knew LUNA was going to nothing, would you have kept your capital in it, to “support” the network? Honest answers below please.
Most of you, were the greedy speculators going balls deep and troughing on the APY, leaving you locked in and getting rekt because you were over exposed.

I am a responsible and I have spent Ages researching this space so that I can try to avoid getting rekt. I am a programmer with 30 years experience and I was looking to begin a blockchain startup. Some of my friends already have listed startups. Am I really not the kind of person this community needs just because I bought your bag as you threw it overboard and when the dust settled you asked you Daddy Do to take it from me and give it back to you. You should be embarrased. Even if I lose it all, I will take personal responsibilty for it and not beg someone else to refund me for my own mistakes. This is unregulated crypto space. It is signposted at every turn that you should not over expose yourselves. But no, it all just ape in and wait for the moon…until its not.

I think this space needs a healthy dose of reality around the risks. Everyone is just a bit over confident. I have friends who just threw money into things they knew nothing about, entirely confident they would make ridiculous money. It’s not how the world works. One friend is 40k down now and still keeps saying it will come back. He knows nothing about ENJ that he threw all his money into. He just jumped on the metaverse hype last year. This is the reality of this space. It is not a surprise these people lose their money.

I still stand by my own risk on the money I put into Terra as it was failing. However, I am really disappointed that they are not even trying to adhere to the rules. I am astonished they are doing what they are doing and behaving this way. There was so much volume in the market, savvy investors would have flooded in and both coins would have shot back up in value. Seems there are things behind the scenes I dont understand about this yet.

Stop with your nonsense “beleivers”. It isn’t dignified, asking to be refunded on a gamble. You are responsible for your money here. Nobody else.


Well worded. Those who enter now, though pricing is small, RISK is at its peak are true Lunatics. They are still buying it. New Lunatics are coming to the community every day. These are the people who you should hold on to. Giving just 10% for the total 100% luna holders is nothing but cheating, no one will respect that kind of direction.


Held about 2000 Luna pre-creash, bought about 3M post-crash.
Doesn’t matter, stop bicking between investors or the only person winning will be TFL. We can think about who gets what after we get our way with the blockchain.


There are several groups and all must be considered. On the one hand, we have the group that held Luna and suffered massive losses. Then we have the group that bought Luna after the crash and from my point of view sent more funds into the project and kept it alive a bit. But we also have the group of Luna owners who owned large amounts of Luna before the crash and sold it at a profit during the crash. And with respect, this group has clearly dragged Luna to death. As you can see, there are many perspectives. But since we are talking about a decentralized token, this decision must not be made centrally, otherwise any hope for a tolerable solution will be destroyed.

1 Like

As you can see from the comments and here, the rats that gnawed holes in the ship, or did nothing to support it, consider themselves superior to those who saved the ship.
They did not believe in the project and did not average their positions in order to remain at least on an equal footing with those who are now called speculators.
They also probably believe that bitcoin for 62,000 is more valuable than bitcoin for 26,000)
The only amendment … those who buy after restarting the system, in theory, cannot be on an equal footing. They saw that the ship did not go to the bottom and began to cling to it.

1 Like