According to
this post, someone earned hundreds of millions of dollars from shorting by manipulating UST and it's "backing". I don't know if it's true.
The article that is shared in that post is based on
this tweet and even that guy said at the end that there is a lot of speculation and assumptions in his scenario how all this played out. But yeah, point of all this was obviously for someone to exploit their faulty mechanism and make money no matter the details how it exactly happened.
And for the reply guys, yes I know a lot of this involves some speculation & assumptions. But a lot of money was made here either way, and I thought it would be cool to dive into how they did it.
So far this has been the fail of the year and it won't be easy to top it.