Wintermute researcher links wallet associated with UST depeg to Jane Street

Wintermute’s head of research Igor Igamberdiev said “there is a good chance” one of the wallets linked to Terra’s UST depeg could be tied to trading firm Jane Street.

In a Feb. 28 Twitter thread, Igamberdiev said Clearpool unwittingly disclosed three addresses associated with Jane Street when it announced that the trading firm borrowed 25 million USDC from BlockTower in May 2022.

According to Igamberdiev, two weeks after UST collapsed, one of these addresses borrowed $15 million from the lender and repaid the funds with an additional $10 million.

After that, the wallet invested $150,000 in tonicdex and borrowed $25 million that it deposited into a Coinbase wallet.

Igamberdiev noted that Coinbase’s deposit was “interesting” because the same wallet received 84.5 million USDC from Wallet A that caused UST depeg. He added:

“This wallet didn’t have any other interactions other than the two mentioned deposits Therefore, they are highly likely to belong to the same entity.”

Meanwhile, Igamberdiev pointed out that this does not necessarily mean Jane Street had malicious intent, as Wallet A had its UST on Anchor for a month.

Jane Street has not yet responded to CryptoSlate’s request for comment as of press time.

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