New on-chain research by HappyCatKripto sheds light on one of #terraClassicLunc biggest mysteries, the crash on May 2022.
~2.8 Trillion $LUNC located, and it's all owned by users, not Binance.
Happy Catty Crypto (now rebranded to Jake Collis Finance) used an ultra rare Terra Classic archive node provided by ColeStrathclyde, HCC traced every hypermint transactions at protocol level during the 11th - 14th May 2022 crash. This is raw chain data, not theory.
🔍 Who:
• A small group of 14 hyperminting wallets active during the 11th - 14th May 2022 crash.
📍 Where:
• Funds were sent from on-chain directly to BINANCE deposit wallet ➡️ hot wallet, not owned by Binance itself.
💰 How much:
• 1.125 TRILLION $LUNC from the top 14 hyperminters alone.
• Estimated ~1.7 TRILLION $LUNC more from additional linked wallets.
• Explains Binance's historic $LUNC balances.
🧠 Key takeaway:
• Binance does not secretly own or control these assets.
• These funds are users, and most likely remain idle due to KYC exposure risk if moved.
➡️ What's next:
• More datasets under review
• Active engagement with the SEC
• Tracking remaining TFL-linked rogue funds
• Community regaining control of the chain narrative
This research fundamentally changes the discussion around LUNC, Binance, and the crash.
Full credit to HCC for the deep dive and tooling behind this work.
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