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Terra UST Collapse

Depeg
Terra • UST
Date
May 7, 2022
Est. Loss
$40.00B
Chain
eth
Direct vault exploit
No

Taxonomy (scoring alignment)

Category: stablecoinMechanism: insolvency cascadeMaps to: depeg, asset, stablecoin_class_risk
Affected assets: UST, USTC
Algorithmic stablecoin UST lost peg and collapsed to near zero. $40B ecosystem wiped. Anchor yield implosion. Vaults holding UST or wrapped UST severely impacted.
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