@Malikka 13 May 2022

Perhaps this will shed some light on the situation. "This is how LUNA and UST attacked: - An attacker on the OTC has accumulated 1 billion UST; - Then he borrowed BTC for $3 billion; - After launched FUD about UST binding; - Then he dumped all his BTC in the market to sow even more panic. After LFG withdrew some liquidity from Curve, the attack began. First, he took all the liquidity from the Curve pool (it took $ 350 million) and then he began to drain UST on Binance. Because of this, a small depeg happened (decoupling from $ 1). The Terra market module is set to a throughput of $150 million per day to recover the peg. And it would be enough if the liquidity in Curve was $4 billion instead of $350 million. Further, due to the fall of BTC and the depeg of UST, LFG were forced to sell BTC to restore the peg. This is exactly what the attacker needed, in parallel he was shorting BTC. While LFG is draining BTC, the attacker keeps pushing and draining UST. And the lower BTC fell, increasing the panic, the more pressure on UST the attacker needed. After an overload in the Terra network and the withdrawal of funds from the exchanges stopped, the flight to Anchor began. After that, LFG and Jump probably realized what was happening and stopped draining BTC, allowing UST to recover on its own. The time was not chosen by chance, if 4pool had worked on the attack, it would have taken $3 billion instead of $350 million."