The co-founder and CEO of Terra (LUNA), Do Kwon has broken his silence on the collapse of the algorithmic stablecoin Terra USD (UST) and LUNA, and the community has responded against the Terra executive.
Despite Kwon’s attempts to clear his name in an interview, community members remain unhappy with Terra’s CEO. In a tweet, podcaster Eric Conner compared Do Kwon’s situation with that of Tornado Cash’s promoter who has been arrested. According to Conner, Kwon swindled billions and is still “partying” while Tornado Cash developers wrote code for privacy and are now “fearing for their lives.”.
Cryptocurrency researcher FatManTerra also shared his thoughts on Kwon’s interview. The investigator described the interview as a “nothing burger.” FatManTerra tweeted that the Terra CEO lied about many things in the interview and tried to describe the fraud in a way that avoids being implicated, but fails to do so.
Bitcoin (BTC) evangelist Cory Klippsten also spoke about it. Klippsten encouraged those who lose their money in Terra’s collapse to take legal action against Do Kwon. On the other hand, analyst Hailey Lennon believe that the Do Kwon interview is not worthy of the community’s attention. “I’m not going to share the link because it doesn’t deserve clicks,” he wrote..
Although there are many critics towards Do Kwon’s recent interview, some still try to propagandize LUNA and claim that Kwon is innocent.. a Twitter user wrote that the CEO of Terra is building a “better MOON” and that he didn’t change his daughter’s name.
In June, South Korean prosecutors imposed a travel ban on Terraform Labs employees. However, as Kwon is already in Singapore, authorities may consider invalidating his passport to launch a full investigation against him..
In July, South Korean authorities took action against those linked to the collapse of Terra. The prosecutors registered 15 entities, including Upbit, Bithumb, Coinone, Korbit and Gopax exchanges. The act was a response to the numerous legal complaints against the company for the stablecoin incident.
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