Notional Labs CEO: Luna big dump culprit is not Do Kwon, the mastermind is still at large

The aftermath of the collapse of the Luna and Terra ecosystems is still ongoing. Although co-founder Do Kwon has been charged with criminal fraud, Jacob Gadikian, CEO of Notional Labs, stated that the real mastermind behind the scenes has not yet been exposed. Against this background, Gadikian suspects that Luna's verification node was attacked during the UST depeg incident, leading to an abnormal operation of hundreds of millions of dollars of transactions and causing damage to the Terra blockchain. According to Flipside's report, during the UST depeg, the volume of the Terra blockchain surged six times the usual volume, and the majority of transactions were from robot operations. These robots blocked the network by sending a large number of failed transactions, making it impossible for Terra to stabilize the UST exchange rate using its economic model. Zhu Su, founder of Three Arrows Capital, accused Digital Currency Group (DCG) and FTX of jointly launching an attack on LUNA and stETH. Do Kwon's trial is scheduled for January 26, 2026.

LUNA1.03%
ATOM-2.15%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)