Terra Founder Do Kwon Is Still Cashing Out, But Not With Bitcoin
Terra founder Do Kwon has been under fire from authorities since the network crashed earlier in 2022. Kwon who has now been asked to turn in his passport or have it rendered invalid has said he is not on the run. The founder has also denied all allegations that he has been trying to cash […]
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Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been keeping tabs on Fatman’s accusations and he claims the allegations are “categorically false.” LUNA 2.0 Token Drops 54% in Value During the Last 2 Weeks The LUNA 2.0 rebirth token has been extremely lackluster in terms of market performance during the past two weeks.....
The rumor surfaced after a Twitter thread by @FatManTerra shared the alleged details on how Kwon, along with Terra influencers, managed to drain funds while artificially maintaining the liquidity. Do Kwon, the CEO and co-founder of the infamous Terra (LUNA) and TerraUSD (UST) ecosystems, refuted the claims of cashing out $80 million every month for nearly three years. Numerous unconfirmed reports surfaced on June 11, claiming Kwon’s participation in draining liquidity out of LUNA and UST before the crash to purchase US dollar-pegged stablecoin such as Tether (USDT).Rumors about Kwon....
The multibillion-dollar collapse of Terra Labs’ stablecoin and the LUNA token is still ringing across the cryptocurrency industry, and numerous questions for Terra’s South Korean founder, Kwon Do-hyung, have emerged from the debris of wasted investments and shattered blockchain ideals. In the midst of the Terra disaster, Do Kwon, the company’s founder, is being investigated […]
The Wu blockchain took to Twitter, explaining that the initial interest rate of the Anchor protocol was initially 3.6% until Do Kwon rejected it. Then, the Terra founder bumped the interest rate to 20% one week before deployment. According to the report, Do Kwon, Terraform Labs Co-Founder and CEO decided the price to be at […]
Now it happens, unsurprisingly: the Interpol is involved and wants a piece of Do Kwon, the disgraced co-founder of the Terra ecosystem which disintegrated drastically in May, multiple news outlets reported Monday. Last week, the Singapore Police Force issued an arrest warrant for Kwon who, it said that time, was no longer in the country. […]