Crypto journalist and author Laura Shin took to her Twitter account to speak about the whole Do Kwon situation. Shin expressed her concern and disapproval with retail investors pursuing Do Kwon’s undisclosed location.
She also supported Kwon’s decision not to reveal his whereabouts. Shin also debated the arguments that Kwon was running a scheme.
Fatman, a Terra whistleblower who is most famous for dropping his unfiltered comments on different projects, had something to say. He reminded Shin of the key milestones along Terra’s fraudulent journey by sharing his tweet thread.
FatMan explained the various incidents that happened alongside the rise and fall of the Terra ecosystem. He stated that it all began in 2020 when Kwon released Basis Cash. Fatman stated that it was very much like the LUNA UST.
Do Kwon abandoned the project after it failed and walked away as if he had never been involved. Fatman also alleged that Kwon faked on-chain volume to attract investors to LUNA and UST.
FatMan reminded everyone that Kwon released Anchor Protocol with an unusually high interest on March 10, 2021, despite warnings. He also claimed that Do Kwon and Terraform Labs cashed out $3.9 billion without disclosing the location of the transfer.
The Terra ecosystem fell in May as UST de-pegged and billions were wiped away from the crypto market. The event saw millions lose their life savings.
The recovery plan was also not that effective in reviving LUNA. The authorities are currently searching for Kwon, but his whereabouts are unknown, and many believe he is on the run.
The post Fatman Reminds Laura Shin on Terra’s Fraudulent Journey appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
