Do Kwon Slams Accusations That He Cashed Billions By Draining Terra’s LUNA, UST Liquidity

Do Kwon Slams Accusations That He Cashed Billions By Draining Terra’s LUNA, UST Liquidity

Do Kwon Slams Accusations That He Cashed Billions By Draining Terra’s LUNA, UST Liquidity

IMPORTANT POINTS

  • A Twitter user explains how Do Kwon allegedly transferred billions from TFL
  • Kwon denies the allegations via his reactivated Twitter account
  • Says he is only a “nominal salary” from Terra. has earned

Do Kwon dismissed accusations that he was the main villain behind the devastating collapse of Terra’s UST and LUNA after a new claim surfaced online suggesting that the Terraform Labs CEO cashed out $80 million every month from the company’s coffers for nearly three years.

Kwon refuted the allegations on Sunday via his recently reactivated Twitter account: “This should be obvious, but the claim that I cashed in $2.7 billion is absolutely false.” He said the allegation contains two conflicting claims, including the fact that “Do’s wallets are doped, and he still owns most of his luna through the airdrop” and that Do has dumped all of his tokens to make billions.”

The TFL founder also said that all he has earned from Terraform Labs is “a nominal salary” and claimed that he “delayed taking most of his founder’s tokens because he “didn’t need it” and because he “not wanting to point the finger unnecessarily of ‘he has too much’.”

Bringing Crypto Mainstream DeFi and Beyond 4-36 Screenshot As part of the SKALE network’s mainnet launch series, our CEO, Do Kwon joined Jack O’Holleran CEO of SKALE Labs and Simon Seojoon Kim CEO and managing partner of Hashed to talk about making crypto mainstream in this panel discussion. Photo: YouTube screenshot/Terra official YouTube channel

Kwon clarified that he was almost silent the entire time because he “don’t want to seem like he’s playing the victim” and revealed that like all Terra investors, he “lost most of what [he] had in the crash.” He added that he “doesn’t care much about money” and accused those who spread “false truths” to add to “the pain of everyone who has lost”.

Kwon .’s final statement turned up after a Twitter user named FatManTerra — the same one who previously claimed several whistleblowers confided in him about confidential information about TFL, Kwon, and the infamous Terra crash — revealed on a Twitter thread the alleged details of how Kwon, along with Terra influencers , were depleting money while successfully trying to make the liquidity of the crypto-asset appear.

According to him, using the strategic program set up to solve the problem of accepting non-interest-bearing token Degenbox, Kwon has paid out $2.7 billion in just “just a few months”. FatManTerra has not yet provided any evidence that the TFL CEO is involved.

The U.S. Securities and Exchange Commission reportedly has evidence that TFL sent $80 million monthly to various cryptocurrency wallets in the months leading up to the historic Terra to collapse, a local South Korean news channel had said last week. Said evidence was gathered when the watchdog conducted a remote video survey of TFL employees to examine the design structure. All of these allegations were denied by TFL CEO Kwon.

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