in the last few hours of the death spiral the supply jumped from 2 billion to 6500 billions
from what i managed to find in the most opaque explorer i saw (terra.finder) those 99% of fresh luna came into the hands of a handful of addresses.
the luna ‘war room’ stood and watch how this happened even if they would ve known in the beginning of those hours where things go. yet they let supply inflate by 99% and the vast majority of it end up in a handful of addresses.
it does matter who were the owners of those addreses.
my point is that instead of proposing to fork the entire chain, the focus should be on those who appropriated 99% of luna
I was looking for that kind of data. I suspected that someone “in the know” would have bought a ton of Luna right before staking was removed due to insane APY for staking. You may have found someone from TFL or a validator who knew the blockchain was about to halt staking rather than the attacker. In any case, seeing this doesn’t bring much trust to the ecosystem.
Agree with this. I mean, the attackers may have exploited a bug in the system but this is way too malicious, even hackers often give back what they hacked if it gets too big.
If CZ or anyone really wants to help, they can just identify who dumped UST on Binanance according to what people are suspecting. OR, if this was a complete failure of Luna/UST’s algorithm, we need to see what really went on with LFG’s BTC.
Please check my Proposal of deflating wallets. I am addressing the problem of super whales as I also believe they must be punished and everybody which is holding for example more then 0.1% of the supply should pay for this mess and most of their coins burned, especially these suspicious wallets! great job!