Terra LUNA/USD founder Do Kwon has now come on Twitter to refute allegations in opposition to him about cashing out funds from the corporate.
On Thursday, TerraForm Labs (TFL) staff said that $80 million of firm funds have been despatched to “secret wallets” each month earlier than the LUNA collapse.
Folks began speaking about it on Twitter, alleging that Kwon had siphoned as much as $2.7 billion over the past couple of months. A Twitter thread by @FatManTerra shared the alleged particulars on how Kwon managed to empty funds.
Additionally Learn: Terra’s Do Kwon ‘Heartbroken’ Over UST Collapse, Doge’s Billy Markus Tells Him To Leave The Industry
Responding to him, Kwon mentioned that the allegations have been false, and he had not cashed out any cash.
1/ This ought to be apparent, however the declare that I cashed out $2.7B from something is categorically false
— Do Kwon 🌕 (@stablekwon) June 12, 2022
He additionally mentioned that his earnings over the previous two years has solely been a money wage from TFL.
3/ To reiterate, for the final two years the one factor ive earned is a nominal money wage from TFL, and deferred taking most of my founder’s tokens as a result of a) didn’t want it and b) didn’t wish to trigger pointless finger pointing of “he has an excessive amount of”
— Do Kwon 🌕 (@stablekwon) June 12, 2022
Additional, Kwon insisted that he didn’t wish to play the sufferer card, though including that he skilled a significant loss within the LUNA crash.
4/ Hope that’s clear – I didn’t say a lot as a result of I don’t wish to appear to be taking part in sufferer, however I misplaced most of what I had within the crash too.
I’ve mentioned this a number of instances however I actually don’t care about cash a lot.
— Do Kwon 🌕 (@stablekwon) June 12, 2022
Michaël Van De Poppe Says Kwon Deserves Jail
Speaking in regards to the LUNA collapse and the current investigations, crypto dealer and analyst Michaël Van De Poppe shared his viewpoint. In a Twitter publish, he mentioned that Terra’s founder ought to face jail time, as a variety of buyers misplaced cash due to his actions.
The truth that Do Kwon has been sending $80 million in the direction of his personal wallets.
Truthfully, he deserves jail.
Many buyers have been shedding tons of cash and he simply goes away with a giant bunch of cash.
Even Madoff bought into jail.
He deserves it too.
— Michaël van de Poppe (@CryptoMichNL) June 9, 2022
Photograph: Do Kwan, Terra web site video screenshot
