As financial team watchdogs launched an investigation into the collapse of Terraform Lab’s sister tokens, LUNC(previously LUNA) and UST tokens, new findings the firm, implying the de-peg was an inside job. A wallet associated with the de-peg of TerraUSD likely belongs to Terraform Labs.

LUNA 2.0 price could make a comeback soon

Following the colossal crash of LUNC and UST token, regulators and financial watchdogs have launched an investigation of Terraform Labs tokens, and co-founder Do Kwon. The US Securities and Exchange Commission and South Korean authorities have pursued their following investigation, and new findings could aid the process.

An investigation by Uppsala Security, Decentralized Solutions for Cyberspace Security, revealed that Terraform Labs managed the wallet behind the attack.

A wallet associated with the de-pegging of algorithmic stablecoin UST token has been identified and labeled as “Wallet A.” The firm suspects that said wallet has a link to Terraform, and that the wipeout of nearly $40 billion in market value after the LUNA-UST token collapse was an inside job.

The firm revealed that one wallet address implicated in the initial run-up to UST price decline and considered responsible for de-pegging was owned or TFL or the Luna Foundation Guard (LFG).

Further, the investigation revealed accounts that were linked, some addresses on Binance exchange and Coinbase that transferred TerraUSD (UST) tokens, USDC, and USDT between each other.

Uppsala Security traced the flow of funds transaction from UST to MIM and MIM to USDT. Starting November 2021, wallets controlled by Terraform Labs swapped billions of dollars worth of UST tokens into MIM and eventually into USDT.

The cyberspace security firm studied how crypto funds were transferred to exchange accounts, some of which were controlled or owned by Terraform founders and the firm. The firm is yet to identify the final details concerning the use of the funds within the crypto trading firms,they have identified potential leads for further investigation.

The following were identified as wallets of interest:

Wallet A: 0x8d47f08ebc5554504742f547eb721a43d4947d0a

Wallet A(T): terra1yl8l5dzz4jhnzzh6jxq6pdezd2z4qgmgrdt82k

Binance account Memo: 104721486 (terra1ncjg4a59x2pgvqy9qjyqprlj8lrwshm0wleht5)

Binance account Memo: 100055002 (terra1ncjg4a59x2pgvqy9qjyqprlj8lrwshm0wleht5)


terra13s4gwzxv6dycfctvddfuy6r3zm7d6zklynzzj5 (LUNC DAO)


Interchange Wallet A: 0xa046a8660e66d178ee07ec97c585eeb6aa18c26c

Exchange Wallet A: 0x21ec2dbb3bfd2210a84bbc924466a70becddd572

Uppsala security is examining the actions taken by these crypto wallets until the day of the Terra LUNA coin crash and the connection between these addresses through on-chain data.

Analysts have evaluated the LUNA 2.0 coin price trend and predicted a comeback in the token’s price. Analysts identified a key support level to watch before LUNA witnesses a bullish breakout. If LUNA 2.0 hits $3.5, it will confirm a bullish price breakout and an uptrend in the token of the new Terra luna chain.

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