Terra creator Do Kwon is reportedly on the run after Interpol put him on their red list. But he would still count on his sales of LUNA, if we are to believe the on-chain data collected by several commentators. What is he accused of?
Do Kwon would have sent his LUNA on the Binance platform
The maneuver was reported by Jaewoo Cho, an assistant professor at Hansung University. It shows that Do Kwon would have sent 523,390 LUNA (the second version of the cryptocurrency) to a sub-account or collaborator:
Since 2022-09-13, DK sent 523,390 LUNA2.0 to seemingly his sub-account or a cooperator terra1mdtes94sv3mtdqwj7zwxunmntc6u7778kus033
Then the same amount LUNA was deposited to Binance with memo 103136234
PS. The account uses Korean “가스비는 넉넉하게^^”https://t.co/l91qrg58ks pic.twitter.com/eTJD9YKYyT
— 조재우(Jaewoo Cho)⚡️ (@clayop) October 10, 2022
This is relatively recent, since these transfers have taken place since September 13, 2022. At the current price, 523,390 LUNAs are worth more than $1.2 millions. As Twitter user FatManTerra pointed out, these transfers took place even as Do Kwon continues to promote Terra 2.0 assiduously:
WADR I implore you to use some critical thinking as this is getting tedious with you
Historically Do Kwon’s MO has been: shill to retail to drum up liquidity, sell bags simultaneously. As above so below.
Who’s wallets: Do Kwon’s. Written in the tweet. Posted about tens of times
— FatMan (@FatManTerra) October 10, 2022
“Historically, Do Kwon’s modus operandi has been: shiller [la cryptomonnaie] retail investors to boost liquidity, sell assets at the same time. »
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Do Kwon in Troubled Waters
If these facts turn out to be correct, it would of course raise a major ethical problem for Do Kwon. The man caused one of the biggest meltdowns in the ecosystem a few months ago, ruining some investors. Taking advantage of version 2.0 of his project is therefore particularly questionable – not to mention the arrest warrants currently targeting him.
On Twitter, Do Kwon continues to promote LUNAand denies having had his funds frozen by the South Korean authorities:
I don’t get the motivation behind spreading this falsehood – muscle flexing? But to what end?
Once again, I don’t even use Kucoin and OkEx, have no time to trade, no funds have been frozen.
I don’t know whose funds they’ve frozen, but good for them, hope they use it for good 🙏 https://t.co/gSucKfqsxj
— Do Kwon 🌕 (@stablekwon) October 5, 2022
As a reminder, the LUNA price had experienced a flash rise about a month ago. Since then, cryptocurrency lives around 2.5 dollars :
The sawtooth evolution of the LUNA in its 2.0 version
Whatever happens on the addresses of Do Kwon, a band of diehard investors always seems to loyally follow the project, who mutated in an attempt to survive. A confidence which remains limited, however, the man being on the run and inconsistencies having been noted in his communications.
👉 On the same topic – Do Kwon and LFG deny involvement in recent 3,300 Bitcoin (BTC) move
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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