Hodlnaut Lost up to $190M in the Terra Collapse

Aug 19,2022
KingData News: Terra researcher FatMan tweeted that in a new filing from Hodlnaut, they admit to have had most of their AUM in UST through their HK DeFi spin-off entity, and they lost a whopping $190m in the Terra crash.
This indicator provides follow-up on the depg of Terra's stablecoin UST on May 8th. Terra's stablecoin UST briefly lost its peg to the U.S. dollar on May 8th, dipping as low as $0.985. The depeg event came after a series of multi-million dollar UST selloffs as one account traded about $85 million worth of UST for USDC on Curve Finance, while another user reportedly sold $108 million worth on Binance. UST posted a slight recovery shortly after Terraform Labs CEO Do Kwon posted a tweet calling out the stablecoin's critics.