Join the larget crypto conference of 2024 in Bitcoin

Do Kwon responded against new allegations regarding Terra collapse

Do Kwon responded against new allegations regarding Terra collapse 2

Terra founder denied the allegations of cashing out $2.7 billion just before the Terra ecosystem collapse.

Do Kwon is the founder of Terraform Labs. The developer team of Terraform labs launched Terra blockchain Network but due to the algorithmic concept of its native stablecoin UST and its integration with its native token Luna created huge fear among the crypto investors and that resulted in a very big downfall in the value of both of the coins. Now Terraform labs is working on a new Luna coin to bring trust among the crypto community but an 86% downfall in the price of the new Luna coin since launch, is enough to tell the trust level for new Luna among the crypto investors.

Recently a Terra insider @FatmanTerra, who is a whistleblower, shared some details based on facts and found that Terra founder Kwon cashed out around $2.7 billion from the Terra ecosystem just before the collapse of the system.

On 12 June, Do Kwon responded to the allegations and said that such allegations are false and also he made income on a salary basis only.

   -----Cryptonews AD----->>> 

BYBIT - Copy Trading

Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at .

  <<<-----Cryptonews AD-----  


Kwon said:

“To reiterate, for the last two years the only thing I’ve earned is a nominal cash salary from TFL, and deferred taking most of my founder’s tokens because I a) didn’t need it and b) didn’t want to cause unnecessary finger-pointing of “he has too much.”

Terra founder also said that he lost much in the collapse, that what he made in the past. At the same time, he asserted that he doesn’t care much about money.

Kwon also suggested to the critics to pass comments or allegations on behalf of facts, which are proven, because such things are really painful not for him but also for everyone who lost.

Earlier this many reports claimed that Do Kwon cashed out around $80 million from Terra around a month ago when the Terra ecosystem collapsed. At that time, many people criticized Kwon for such activities as selfish person.

Michaël van de Poppe, crypto trader, and analyst suggested to put Kwon in jail for the same.

Read also: Govt finds risks associated with unhosted crypto wallets, says US Treasury official

Do Kwon responded against new allegations regarding Terra collapse






Ads by Cryptonews24


Buy bitcoin and other cryptocurrencies on crypto exchanges:    Binance    Coinbase      Kraken      Bitfinex

EXPLOSIVE LTD is an investment company specializing in financial market trading. Our preferred market is commodities: EXPLOSIVE LTD have developed accurate expertise in trading gold, silver, crude oil, natural gas.

🔥 Explosive-X
Signup link:
Started: 01/06/2022

💰 Investment Plans: 4% daily for 25 days (principal return end of the cycle)

Cancel Deposit after 24 hours with a 15% fee

Withdrawal: Manual (Max 12 hours)

📥 Minimal deposit: $10 – Maximum deposit: $50.000

📥 Minimal withdraw: PM $1 , BTC $10 ,LTC $5 ,ETH $20
XRP $5 ,DOGE $5 ,USDT ERC20 $20 ,TRX $5 ,XLM $5
USDT (TRC20 BEP20) $5 , USDT TRC20 5$ , BNB $5 ,BCH $5

🤝 Referral program: 6% – 2%

Career Bonus:
$1000 Direct active referrals: $40 Bonus
$2500 Direct active referrals: $100 Bonus
$5000 Direct active referrals: $250 Bonus
$15,000 Direct active referrals: $600 Bonus
$50000 Direct active referrals: $2500 Bonus

Sign Up :


BN Trust
📣24 hours trading, every two hours, you can earn more than 5% profit per day
Invest $100 (30 days) and get $432
Invest $300 (30 days) and get $1297
Invest $500 (30 days) and get $2161
Invest $1000 (30 days), get $4320
Invest $5,000 (30 days) and get $21,610
Invest $10,000 (30 days) and get $43,200

💵Minimum deposit amount is $20.
The minimum withdrawal amount is $10.
Cash out anytime!
The higher the capital, the more you earn

🖇Operation registration link

Ads by Cryptonews24




Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin. provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice. recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.


Please follow and like us:

Social media & sharing icons powered by UltimatelySocial