The Biggest Crypto Collapse, 300 Billion Dollars Evaporated In 72 Hours!
Thu 24 Oct 2024 ▪
4
min read ▪ by
In May 2022, the crypto world experienced one of its biggest debacles with the spectacular collapse of Terra LUNA, wiping out over 40 billion dollars in value in just 24 hours. This disaster, which shook the entire ecosystem, will be etched in history as one of the biggest crashes in digital asset history.
A vertiginous fall with devastating consequences
On May 7, 2022, the Terra ecosystem, created by Do Kwon and Daniel Shin, was still dominating the crypto market from its offices in Singapore. Its algorithmic stablecoin UST, intended to maintain a perfect…
