One of the biggest crashes in crypto history.
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As we are all familiar with terraUSD as a stable coin, it was supposed to stay at $1 always but one day it didn’t.
It de-pegged, dropped to 0.90 and further down to below $0.10.
Investors lost billions in days and the worst part is that there was no refunds or anything like that. I mean the whole point of stable coins is to live up to its name and do what it is supposed to do.
People had their life savings, retirement and their entire income buried in a stable coin they could trust. And the reddit threads were filled with despair.
Moral of the story? Don’t be unlucky.
