# UST depegging

By [Untitled](https://paragraph.com/@0xe997a63d8c3649893f0da02ff62075e25efe76d9) · 2022-06-14

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CoinDesk Korea just released the bombshell revelation that the wallet behind the UST depegging is actually owned by Terraform Labs. If true, this would mean TFL intentionally caused the depegging.

[https://t.co/FPvEYjuuq1](https://t.co/FPvEYjuuq1)

The news is wildfire. It's already big in Korea, and the data found is being used by Korean prosecutors. It's on Huobi Global as well. But, I found a major hole in their report (based on research from Uppsala Security, a chain analysis firm) making the whole thing untrue.

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*Originally published on [Untitled](https://paragraph.com/@0xe997a63d8c3649893f0da02ff62075e25efe76d9/ust-depegging)*