The Luna Foundation Guard (LFG), the organization tasked with safeguarding the peg of UST, has broken its silence to explain the fate of the Bitcoin reserves used during the depeg incident.
and 1,973,554 AVAX were not used and still are in the possession of the organization. However, there is no clear answer as to how these will be used in the future.The statements from LFG help to clarify how the Terra depeg incident happened, and how these funds were used.
An analysis of the transactions conducted earlier by, a blockchain analytics and compliance company, found that the majority of the funds were sent to two exchanges: Binance and Gemini. However, the company declared that it was “not possible to trace the assets further or identify whether they were sold to support the UST price.”
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