largest crypto falls of 2022

The cryptocurrency market saw one of its worst bear markets in 2022 and lost key big platforms.

Ronin, the blockchain network behind Axie Infinity, was hacked for $625 million in March.

When TerraUSD (UST) was unstaked on May 7, hundreds of millions of US dollars were liquidated.

Three Arrows Capital (3AC), a $560 million crypto hedge fund, suffered greatly when Terra collapsed.

After 3AC defaulted on a $650 million loan, Voyager Digital filed for bankruptcy on July 6.

Voyager provided 3AC with a substantial loan despite the fact that there was no collateral.

Voyager lost a lot of consumer money after 3AC defaulted and its owners left.