Try Quests to earn cryptoBig Broski analysis
Who dis
Wallet terra1yl8l5dzz4jhnzzh6jxq6pdezd2z4qgmgrdt82kwas responsible for the withdrawal of up to 14% of all the withdrawals on anchor on the 8th of May. Let's take a look at it.
(For reference, look this awesome dashboard first)
Funding
It was funded first time with transfers from binance, no way to track it back, on March 15, and deposited on Anchor earn. Was funded again with transfers from binance (60M) on April 2, deposited 70M UST on anchor earn. Was funded again multiple times form binance the first two weeks, depositing a total of 408M UST on Anchor.
The same account withdraw 100M of deposits from Anchor the 25th of April (25% of its total deposits), I'm guessing in order to test it . A total amount of 10M went that day to a Binance account (https://terrasco.pe/mainnet/tx/4124934176DD4445AFE98A65E1FF18BE5BD217A954937915164B3097358351F5).
The following table and chart show the deposits on anchor.
What follows
On the 7th of May, Broski made its big movement. He/she withdraw in the morning (CET) 45M from Anchor earn, and sent them to a Binance account.
Interestingly, twitter user 0xHamZ noted there was 25bp UST depeg on Binance, indicative of Binance being irregularly long UST. According to him:
And then the fun happened; the rest of the 300M UST were withdrawn in a matter of minutes.
Where did this liquidity go?
Basically, the part that did not make it to Binance went through wormhole to the following address:
https://etherscan.io/address/0x8d47f08ebc5554504742f547eb721a43d4947d0a
The tx hash in Ethereum and Terra being:
The image below shows that he/she swapped the 85M UST through curve to USDC.
Finally, it ended up sending the all the USDC to the following address:
And after trying to track down the rest, the funds went to coinbase wallets. In the whole operation, Broski earned 3.3M UST from Anchor earn, lost 50k UST when swapping for USDC, and the rest remains unknown in this analysis.
The same now for Anchor redeems: