Regarding Kwon’s statement after the Luna disaster
TerraForm Labs CEO has denied fraud allegations related to the Luna and Terra cryptocurrency scams, but the community has strongly pushed back.
interview coin Terra CEO Do Koon, released on Aug. 15, answers many questions surrounding the historic crypto market crash. This is the first time the 9x CEO has appeared in public media since the Luna disaster in late May.
Kwon insists that the Terra Project is not a giant Ponzi scheme. He said he was badly injured and didn’t know how much he lost in the accident. “When you are in the position of the founder of a nearly $100 billion project, you get so many results that you don’t think about failure. I never thought Luna would fail. It’s still with me. It’s so stupid,” Kwon said.
They also did not deny that the company has its own information and pointed out that this person can use the opportunity to make money. However, if there is a defect, the person who caused it in the first place is responsible. “If there’s a design flaw that causes scammers to short and profit, it’s my fault. I’m the only one to blame here,” Kwon said. coin.
CEO Tera added, “When the project fell through, my family faced some threats. I had to leave Korea because of an accident. I still have no intention of returning and the Korean authorities have not received a summons. I was sent.” .
However, his comments met with strong opposition from the community. Many people believe that he continues to cheat. Some comparisons between CEO Terra and developer Tornado Cash are now under control. User Eric Conner tweeted, “Kwon has cheated billions of dollars and is still enjoying it while the creator of Tornado Cash worries about his fate.” Cryptocurrency researcher Fatman also pointed out that Kwon lied about many things during the interview .
Previously, the information was one page DigitalToday According to the Korea case collected by the country’s Supreme Court Office, after April 30, Terraform Labs Korea decided to cancel the industry board meeting. The plan calls for the company’s two offices in Busan and Seoul to close on May 4 and 6 respectively. This is considered an unusual action before the Luna event.
Broadcast at the end of June YTN South Korean officials said prosecutors are trying to revoke Kwon’s passport. The Korean authorities ordered Kwon to be summoned to search the company’s office and confiscate the relevant documents. The company’s employees and former employees are also not allowed to leave Korea.
In early May, the cryptocurrency community experienced one of the greatest catastrophes in history when Luna and Terra’s stablecoin UST suddenly collapsed. economic times Dubbed the “killer” by investors, Luna’s price has fallen 99.6% since its peak of $86 on May 4. On May 13, stablecoin UST fell from an anchor of $1 to $0.008 to $0.005. Both cryptocurrencies are worthless after many failures of their founders. Analysts called the incident a blemish on the cryptocurrency market and CEO Do Kwon’s behavior during the scandal was irresponsible.