Anonymous goes after Do Kwon

Hacktivist group Anonymous has issued a threat to bring to justice against TerraUSD (UST) boss Do Kwon, after the $40,000,000,000 collapse of the cryptocurrency.

In a YouTube video posted on Monday, the group accused the co-founder of Terraform Labs of scamming those that had invested in platform’s Terra (Luna) and UST tokens.

“The actions of Do Kwon, the founder of the Terra Luna ecosystem, is single-handedly responsible for scamming billions of dollars away from retail investors”, the video said.

“Do Kwon made a name for himself with his arrogant tactics, trolling competitors, critics and acting like he would never fail … However, he was quickly knocked down by the markets. The louder they are, the harder they tend to fall.”

The hacker group said it was investigating Kwon’s entire career in the crypto space and aimed to bring him to justice for what the group dubbed a “trail of destruction”.

A Reddit forum related to the TerraLuna token saw users express suicidal thoughts on the platform having seen millions wiped off the coin’s value in May.

One investor reported losing $15,000 (£12,3000) after failing to sell their holdings when Terra Luna was trading above $100 last month.

They wrote: “I should’ve cashed out when it was $100, then I would have been up $25,000.

“But I got greedy hoping to get more money so I can at least afford a down payment for a house for my family. I guess no house and savings then.”

Another member of the r/terraluna subreddit wrote: “I lost over $450,000, I cannot pay the bank. I will lose my home soon. I’ll become homeless.”

TerraLuna began to struggle on May 8, prompting people to start selling rapidly.

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Source

Updated: 06/29/2022 — 15:00