cryptonews.com
Hacktivist group Anonymous has vowed to look into the actions of Terra (LUNA) co-founder Do Kwon since he entered the crypto space in a bid to expose his alleged crimes.
A video purportedly coming from the hacker group said that,
“Anonymous is looking into Do Kwon’s entire history since he entered the crypto space to see what we can learn and bring to light. There is no doubt that there are many more crimes to be discovered in your trail of destruction.”
The group also pledged to “make sure” Do Kwon is “brought to justice as soon as possible” in regard to the collapse of the Terra ecosystem back in May, which erased more than USD 40bn in value from the crypto market.
The downfall of Terra, which sent shock waves across the entire industry and exacerbated the crypto crash, delivered huge losses to investors, some of which reportedly put all their life savings into what was touted as the currency of decentralized finance (DeFi).
In the video, Anonymous outlined a list of Kwon’s alleged crimes, including claims that he was cashing out USD 80m each month from LUNA and terraUSD’s (UST) prior to its collapse, as well as that he had a role in yet another algorithmic stablecoin called Basis Cash, which also collapsed.
The video stated,
“Do Kwon, if you are listening, sadly, there is nothing that can be done to reverse the damage that you have done. At this point, the only thing that we can do is hold you accountable and make sure that you are brought to justice as soon as possible.”
The hacktivist group also criticized Kwon for his “arrogant tactics'' in trolling competitors and critics and “acting like he would never fail.” It added that sometimes people just make mistakes and sometimes businesses fail, but "there is significant evidence that Do Kwon had bad intentions from the start."
Anonymous is a decentralized international activist collective that began its activities in 2003 on the anonymous social community website 4chan. The group has earned itself a reputation for organizing cyber attacks against government institutions, agencies, private corporations, and even the Church of Scientology.
Despite its many achievements in the past, some users argue that the group has not accomplished much recently.
"I don't think I've ever seen anonymous actually accomplish much, despite all their posturing," one Reddit user said, while another claimed the group hasn't "been relevant in over a decade."
Currently, at 10:21 UTC on Monday morning, the 136th coin by market capitalization, LUNA, is trading at USD 2.21, having gone up 11.4% in a day and 4.6% in a week. The original LUNA, the coin in usage prior to the move to Terra 2.0, is now called LUNC, and it's trading at USD 0.00007698, up 30% in a day and 26% in a week.
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Learn more:
- Do Kwon Says He’s No Fraudster and Has ‘Great Confidence’ in Terra 2.0
- Terraform Officials Banned from Leaving South Korea as Do Kwon ‘May Apply for Singaporean Citizenship’
- Mystery South Korean Company that ‘Worked on Terra Network’ Faces Media Scrutiny
- Terra Moves Closer to New Chain Launch, Secures Exchange Support
- New Luna Token Down Almost 90% From Its All-Time High and Keeps Trending Lower
- More Crypto Regulation Incoming in South Korea Following Terra Collapse, Gov’t Indicates