Justin Sun, the founder of the Tron (CRYPTO: TRX) blockchain, laughed off claims that he was behind an organized attack that took down Terra (CRYPTO: LUNA) and its stablecoin TerraUSD (CRYPTO: UST).
What Happened: In an interview with CoinDesk, Sun denied any involvement in UST’s de-pegging event and said he believes the situation unfolded due to market panic rather than a coordinated attack.
“I think the LUNA problem is still that they used too much leverage. That’s why when the market collapses, the money they have in their reserve is just not enough to recover. We all witnessed the market panic,” …
Full story available on Benzinga.com