In a video posted on Youtube, hacker collective Anonymous has pledged to join the investigation into Terra CEO Do Kwon to hold him accountable for his actions and bring his ‘crimes’ to light. The group promised to “make sure” he is “brought to justice as soon as possible” following the collapse of the Terra (LUNA) and TerraUSD (UST) ecosystems.
The group assured that they will be looking into Do Kwon’s actions since he entered the cryptocurrency industry to reveal his alleged crimes.
“There is no doubt that there are many more crimes to be discovered in your trail of destruction,” they stated.
According to the hacker collective, Do Kwon stole billions of dollars from Terraform Labs prior to the ecosystem falling apart. They also noted that he was part of the abandoned stablecoin project Basis Cash.
The stolen billions the group was talking about were the alleged action of Kwon cashing out $80 million each month for nearly three years from TerraUSD and LUNA before its collapse. He recently denied the allegation and said he also lost “most of what I had in the crash.” (Read more: Do Kwon Denies Cashing Out $2.7 Billion worth of LUNA before The Crash)
Further, Anonymous also pointed out and criticized Kwon for his “arrogant tactics” in addressing his competitors and critics and “acting like he would never fail.”
All of these started last month when Terra’s stablecoin USTC depegged from the US dollar and the cryptocurrency LUNA collapsed which wiped out billions from the tokens’ market value leaving several investors and holders with huge losses. (Read more: What happened to USDT, UST, and LUNA)
After the crash, Do Kwon proposed revitalizing the Terra Blockchain by resetting the network ownership to 1B token. On May 28th, Luna 2.0 was reactivated then immediately fell to $5.98 or down more than 70% after the blockchain Terra relaunched. (Read more: Luna V2 Price Pumps Then Dumps to $5 Immediately After Relaunch)
Recently, according to Korean local media outlet JTBC, former and current employees of Terraform Labs were sanctioned by the Seoul Southern District Prosecutor’s Office for a travel ban to eliminate the possibility of key officials within the company fleeing abroad to avoid further investigation. (Read more: Terra Employees Banned from Leaving South Korea)
This article is published on BItPinas: Hacktivist Group Anonymous Pledges to Reveal Terra Luna’s Do Kwon’s ‘Crimes’
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