Did Do Kwon Sent $80 Million a Month to Secret Wallets?
Hey Everyone,
In a boring and slightly depressing crypto week the Luna Drama is unending and many new reports are coming out accusing Do Kwon (Luna's founder) of sending funds to secret wallets up to a month before the de-pegging and crash of UST.
It looks like the SEC will continue to investigate the situation, and one thing that has jumped out at me all along is I never saw any transaction reports for the sale of the BTC that was backing UST nor does this story include specific transactions that I've seen.
If the Luna community and leadership wanted to create trust for Luna 2.0 this certainly doesn't help, and yet, it's hard to know how seriously to take this story, as it almost seems like internal rumors without and links to transactions and where the money would have come from.
I guess we will all have to watch the continuing saga of Lunc and Luna both of which are trading slightly up, and obviously substantially lower than pre crash levels. At first I thought with a committed community they might have a chance to rebuild, but as the saga continues it just seems to get less and less trustworthy and like maybe people should just accept the project's death.
What are your thoughts on Terra Luna? Do you think Do Kwon ran off with the money?
If people can't understand Do Kwon scammed the project, then that might be a big hole in their brains!
$WINE
Cheers~
Looks like they do not. There is a new Luna version, and people are buying it. If Do Kwon is currently not in jail, then he certainly ran off with that $80 million USD per month. He should be in jail for this. This is bad not just/only for Luna, but for the whole cryptocurrency reputation in general too. But looks like people like to throw their money out of the windows. Because this is what they do by buying Luna and/or Luna Classic.
Well, the Luna 2 was also an airdrop, I really haven't looked to see how much buying is happening (basically volume).
But yeah people are nutty
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hehe, the whole damn story just keeps getting weirder.
Where are all these transactions?
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I'm glad that I'm not into those crazy different coins! I know a few people that are all about it and doubled down on the craziness. Some made a little money but in the end, did they make any money at all? I doubt it because they were invested in their original buy with Luna so this money was just paying themselves back for massive losses.
I wonder if we will get the Bitcoin transaction addresses or not, I know people are certainly scouring the logs for that stuff!
That's what's weird during this whole story I haven't seen one Bitcoiner, pin point or share any transactions.
You know those dudes love to find the transactions, so I just feel like the story keep getting stranger and I'm simply not sure what to think.
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This is like a bad dream, that keeps getting worse. While I would like to give him the benefit of the doubt, and I hope this isn't true, I pity anyone who is so desperate as to invest in anything associated with Terra Luna.
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Arrest him and jail for life. He knew it would eventually fail and kept lying to investors. A disgrace to the crypto community.
Well maybe he should get a trial? it's so weird there doesn't seem to be any evidence of the sale of the BTC or these transfers either.
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My thoughts were that they should have left Terra LUNA to die in peace.
No matter how they did the airdrop for the new token, they were never going to come close to making everyone happy.
Worse, they just made those that felt hard done by even more angry.
Now you add this latest news about those dodgy transactions from Do Kwon...
Yikes!
We don't yet know for sure if he actually did run away with money that he certainly wasn't entitled to.
But if it comes out that he did, god will he be doneeeeeee.
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Yeah, it's odd no evidence and a lot of words, the crypto community is usually pretty quick to point out transactions.
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The BitConnect of the last cycle.
haha, good point
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With all this news surrounding him, and the recent crash of Terra Classic I'm suprised people are still investing the new Luna. They never learn, I guess.
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I'm sure most saw it as a gamble, but I suspect it doesn't go well for anyone.
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That's true. We never know, crazy things happen, XD
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Hmmm.... I smell something fishy....Makes me want to go buy some Luna 2.0 Lol!!🤣
You are joking, but some people are actually buying it. Currently it is "worth" (?) $3.01 USD.
Definitely joking lol...... Sounds like the founder filled a few crypto bags with BTC!😇
Yeah, that's a looooooooooooonnnnnnnnnnnnnggggggg shot
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It's all very fishy
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So very glad I never invested in Luna, the Mrs boss lost $5,000😮
How he moved on so fast to LUNA 2.0 was baffling to me.. more surprising is how people trusted him with all that has happened. Guess this is why they say the crypto space is a very forgiving space.
I also learnt the South Koreans are currently looking into the case more vividly because of his suspicious actions before and after the crash. Hopefully we get to the bottom of this and people who got affected by the crash find some form of closure.
Who knows what really happened. The cynic in me says he scammed a shitload out of bamboozled investors. I don't trust him that is for sure, and have no intention of being involved in Luna2, however I shall be watching, like an onlooker at a fire!
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Haha, I understand, interesting stuff. I was prepared to see what the community would do, but at this point, it's a mess, no signs of real rebuilding just shilling the shit coins.
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Oh well, if you see signs of anything positive apart from the typical shilling of the shit coins, do let us know:)
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This guy deserves to be put in jail.
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Well, it sounds like 2 different countries are investigating, I don't even know if he is still around.
A disappearing act might be in order
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You can bet on that
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Old Luna, new Luna. Do Kwon and the entire Lfg and people who thought they knew things and actually don’t know anything have been a shitshow. I just can’t wait for it to all go away
Yeah, it's going to last in the news cycle until something take over.
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Ponzi does ponzi things :P
lol, wise
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:D
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New Luna is slowly losing its value, because there is no trust level remained in Terra Foundation and Kwon. Currently, Luna 2 is backed by loans from central exchanges, eventually Kwon will need pay interest for that loan, and Terra is already devastated, he should have revived Terra Classic and gain trust rather making a new chain. It's ticking bomb for now.
Sure looks like that is true.
Puts a new spin on the word.. Trustless
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So, more trouble for Do Kwon?
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Do Kwon should probably lay low for a long long time
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Let's see how he copes with the situation. Will he be subdued or is he going to come out of it stronger.
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Both LUNA chains need to die, unfortunately. There needs to be a strong message delivered otherwise it will encourage bad actors. There are absolutely zero fundamentals behind why LUNA should succeed. This might sound like a tough message but that's the truth. I am not necessarily saying Kwon is a bad actor but if bad actors see projects succeed for no legitimate reason they will be encouraged to enter the market with garbage.
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I hear your point, at first I wanted to see what the community would do, but it seems clear at this point, it's just a long slow self distruct.
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Yeah, I think so too...
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Where there is smoke there is fire and who knows what to believe as it shows how shady the entire project really was. I thought crypto was meant to be transparent.
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Yes, agree both on the shady and the transparency.
Meh, at first I thought a strong community could pull them up over time, and while I will not say never,...
I wouldn't touch this with my enemies wallet.
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It seems new things about LUNA come everyday. If these people can't produce links or evidences to transactions of what they claimed happen then I wonder what they are actually trying to do :)
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Well, I've heard there is a lot of unhappiness between the Luna 2 side and those who decided to stay on LUNC.
It's pretty hard to figure out exactly what happened, but typically, when I have read reports on rug pulls and such people tend to post the transactions.
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It's interesting how the project will go from here being surrounded with so much "noise" and unhappiness. I think we will see or hear more of it in the coming days, weeks and even months hehe :)
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seems there is a committed community of LUNAC people ... going to be interesting to see if they can do anything while Kwon has pretty much abandoned them. They have passed a proposal for burning of supply until it's down to 10B... now to see if it gets implemented.
Yeah, a split community and volunteer burning. Ugh
Good Luck guys
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the split is similar in tone to that between Hive and Steem. It settled down in time.
The burn is not voluntary. The proposal which was passed will require asking the exchanges to setup a 1.2% fee on all LUNAC transactions for purchasing and burning... until the 10B supply is reached. It will require some coding changes on the chain ... work on that is underway.
That is why I'm curious to see if it happens. Apparently it has been done on some other chains.
Interesting! Thanks for sharing.
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I have yet to see anything good for the new Luna 2.0 so I think it's a failed chain. I am glad that I avoided the entire issue and I have zero plans to buying any Luna.
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Yeah, I was curious how Luna 2 would go, but certainly not impressed
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I don't know if Do Kwon ran off with money or not, but I don't trust him anymore. I don't think he wants to save Luna anymore.
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Yeah, I didn't know who he was before, but I thought.. give the community a chance, but at this point..
RUN AWAY
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Frankly, I don't know who he is either. He was generally seen as a loved one by the community. Unfortunately, appearances can be deceiving. Everyone deserves a chance, but unfortunately we were deceived.
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Well, I'm waiting to see some evidence, but certainly the leadership has been really, really bad since this strated. Kind of reminds me of Ned fumbling around.
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You've made a great resemblance, There's definitely a lot of resemblance.
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Thats how these things go tbh. ALl you need is to enter their crosshairs and they'll start digging up as much dirt on you as they can.
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Well where is the evidence of the dirt though
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They don't even need evidence. They just need to smear the namme.
People that know better won't be swayed but most times people that know better are usually a minority.
In business, trust is everything and when that trust is gone, the goals and objectives of the business is just an ink on an AR paper. LunC is just a mess since it dropped twice below the crash price.
Do Kwon has really made millions of millionaires to count below three figures.
I hope he gets out of this on time.
This is the kind of stuff people swallow without checking the facts. I don't believe this before I see proper evidence.
Yeah, I don't know what to think. Seems fishy no one is posting transactions, but then again...
I wouldn't put anything past Do Kwon
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Is 80M a big sum of money for Do Kwon? I can't think of staying to build 2.0 after robbing 1.0 reserves.
Yeah, but again.. If it is true, very little evidence and a lot of talk
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Cases like this is what makes crypto adoption impossible today, it's full of scammers
Well, the real fiat world is also full of scammers.
I mean the word Ponzi didn't start in crypto
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I agree, however, it's crypto who has to gain the trust of the people
Yep
Yeah, so how can they claim it happned if it wasnt recorded on the blockchain?
Exactly.. WHERE ARE THE TRANSACTIONS
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And more trouble for the new Luna?
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lol
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