[HN Gopher] The Depegging of UST
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       The Depegging of UST
        
       Author : denotational
       Score  : 17 points
       Date   : 2022-06-05 21:16 UTC (1 hours ago)
        
 (HTM) web link (jumpcrypto.com)
 (TXT) w3m dump (jumpcrypto.com)
        
       | [deleted]
        
       | TameAntelope wrote:
       | So is this presented as "evidence" to suggest there was an attack
       | on Luna, that its depegging into a death spiral was intentional
       | by some person or group of people?
        
         | greatpostman wrote:
         | Yeah someone found a flaw and took it down
        
         | Kiro wrote:
         | That's probably what happened and not a conspiracy theory but
         | that doesn't make Luna or algorithmic stablecoins less bad. If
         | they are vulnerable to attacks, then they're not stable.
        
         | wmf wrote:
         | I don't see any attack. It looks like a bank run caused by
         | people exiting crypto.
         | 
         | It has been known for years that algorithmic stablecoins cannot
         | survive a bank run so maybe Wallet A knew that their
         | withdrawals had a probability of triggering collapse, but I
         | still wouldn't blame them.
        
         | adhesive_wombat wrote:
         | If code is law and its all deliberately unregulated, is it an
         | attack, or is it simply an innovative leveraging opportunity?
        
           | wmf wrote:
           | I don't even see anything innovative here. People withdrew
           | their money.
        
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       (page generated 2022-06-05 23:00 UTC)