It's indeed great to see that South Korean lawmakers are serious about consumer protection even in crypto market. It certainly send positive vibes across the crypto market at least in South Korea.
I believe the CEO promised that LUNA will be re-pegged in coming weeks. But it is necessary to know the fault so that it can be avoinded in future.
Topic: Luna CEO summoned by lawmakers - page 2. (Read 405 times)
This idiot has the nerve to relaunch his Luna and tried to rebuild his creation, this is the same idiot who made a viral statement that there is enjoyment watching companies die, now people are laughing at him now he gets the karma that he deserves, he should pay for not taking action when it was recommended to do the right thing.
We all know that it's risky investing in Cryptocurrency but it's riskier investing in a scammer like Do Kwon.
We all know that it's risky investing in Cryptocurrency but it's riskier investing in a scammer like Do Kwon.
Whether we like it or not, he has to pay the price. He was accused for tax evasion around 78 billion. If LUNA goes down along with the forked one, the winners are the ones who shorted LUNA in futures trade despite the big risks in this method.
I never invested a single LUNA token even if it did dipped back then and pumped shortly. Then it goes back to dip mode again, but this time with the ongoing lawsuits and uncertainties, I don’t think there is no way LUNA would become relevant anymore as it already loses trust from investors and enthusiasts.
I never invested a single LUNA token even if it did dipped back then and pumped shortly. Then it goes back to dip mode again, but this time with the ongoing lawsuits and uncertainties, I don’t think there is no way LUNA would become relevant anymore as it already loses trust from investors and enthusiasts.
here's some things that must become the main concern
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
You know I saw on Coinbase youtube that there are several ex employees of Terra who said this guy Do Kwon actually did a very similar scam in 2021. He launched a stablecoin,,, also tied to us dollar, also using minting/burning of two different coins in a loop and also using a reserve fund to peg. That one was launched anonymously but they said he was one of the devs.
20 million lost or something.
Then he did this. And people went crazy for the same shit. Do you know why I do not feel sorry for people?
Oh well, as much as the market has it's up and down, investors are also cyclical. When we learn our hard lessons in the past, there will be newbies who will repeat the same mistakes over and over again.
I wouldn't call them stupid though, as I have said, most likely inexperienced one who think that the whole crypto sphere can make money for them in round clock without doing due diligence until they fall for this trap.
yeah people are so dumb keep fallen into the same shit over and over again. I will not be surprised to see that if you don't feel sorry for them. Im also thinking the same think like you. They are so stupid and to be honest i prefer to call them as gamblers rather than crypto investors. They are putting their money into the garbage project and then they got scammed. They are all yelling for the government to help them all. what a pathetic community.
Can you say the Luna project was stupid before it crashed, I bet you wouldn't dare argue like that. Luna and Ust have been included in the list of top altcoins due to their rapid development, so stop blaming investors because they also don't expect the worst possible loss of value of their investment.I agree with @asriloni, don't blame the people they are just taking a risk. As others say "Even they cached the falling knife", it's their decision, and don't take it against them. We don't know what will happen next and it is better to wait for more updates, and the best thing to do now is to recover from the loss and take it as a lesson.
I think this is the end of do kwon's journey, now do kwon should have gone to jail but so far it hasn't happened because there are regulations from various exchanges stating that the exchange has risks and is borne by the traders so that's what making Do Kwon still difficult to put in prison.
It will affect all of the investors of Terra Luna/UST, and I think that there will be a possibility that Luna will be delisted on exchanges since the co-founders have an active lawsuit and didn't follow their law. There would be a lot of trials and we never know if Do Kwon will lose or win the case.
I think this is the end of do kwon's journey, now do kwon should have gone to jail but so far it hasn't happened because there are regulations from various exchanges stating that the exchange has risks and is borne by the traders so that's what making Do Kwon still difficult to put in prison.
yeah people are so dumb keep fallen into the same shit over and over again. I will not be surprised to see that if you don't feel sorry for them. Im also thinking the same think like you. They are so stupid and to be honest i prefer to call them as gamblers rather than crypto investors. They are putting their money into the garbage project and then they got scammed. They are all yelling for the government to help them all. what a pathetic community.
Can you say the Luna project was stupid before it crashed, I bet you wouldn't dare argue like that. Luna and Ust have been included in the list of top altcoins due to their rapid development, so stop blaming investors because they also don't expect the worst possible loss of value of their investment. 
here's some things that must become the main concern
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
You know I saw on Coinbase youtube that there are several ex employees of Terra who said this guy Do Kwon actually did a very similar scam in 2021. He launched a stablecoin,,, also tied to us dollar, also using minting/burning of two different coins in a loop and also using a reserve fund to peg. That one was launched anonymously but they said he was one of the devs.
20 million lost or something.
Then he did this. And people went crazy for the same shit. Do you know why I do not feel sorry for people?
He should go in for it if he is found guilty of manipulating Luna to his favour. Look at the hardship he has caused Luna and all those who bought it. There are families who are greatly affected and all their earnings destroyed for investing in Luna and then one man and his associates making away with the cash. Alot of investors believe Luna's crash was planned by Do Kwon and he should be prosecuted.
We need transparency on the worst happenings in crypto and if he is found guilty then it is something heinous to destroy his community's finances, I think we should monitor the facts in the trial because we will know the real facts about the case of the collapse of luna and ust prices. 
That's really a possibility that he had played something behind for the two coins to crash into the pit.
The latest news that I've seen is about the possible arrest of him after this summons. So, I think that he shows up there, he's aware that any potential arrest would lead him on jail time if it's proven that he did play shady games with the money of the people. There is no longer help and any solution he proposes, existing investors that have lost money won't believe him.
The latest news that I've seen is about the possible arrest of him after this summons. So, I think that he shows up there, he's aware that any potential arrest would lead him on jail time if it's proven that he did play shady games with the money of the people. There is no longer help and any solution he proposes, existing investors that have lost money won't believe him.
He should go in for it if he is found guilty of manipulating Luna to his favour. Look at the hardship he has caused Luna and all those who bought it. There are families who are greatly affected and all their earnings destroyed for investing in Luna and then one man and his associates making away with the cash. Alot of investors believe Luna's crash was planned by Do Kwon and he should be prosecuted.
here's some things that must become the main concern
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
You know I saw on Coinbase youtube that there are several ex employees of Terra who said this guy Do Kwon actually did a very similar scam in 2021. He launched a stablecoin,,, also tied to us dollar, also using minting/burning of two different coins in a loop and also using a reserve fund to peg. That one was launched anonymously but they said he was one of the devs.
20 million lost or something.
Then he did this. And people went crazy for the same shit. Do you know why I do not feel sorry for people?
I think he maybe caught in some hidden games that led Luna to crash because there are many Luna released to the market. How did that come about if not that it was a game played. Will this be more troubles for Kwon?
It is looking that way too for me. The CEO of Terra Luna might have rubbed his hands in oil secretly with the team for such kind of lost on investors. It is good that he will face the legislators maybe something could be squeeze out of him. It however depend on the government to make sure investors are compensated if his having hand in the shady crashing of investors money.
But the luna CEO is putting up a plan that will further decrease the value of the coin by going for a swap.and change of chain which will result into.mre toke minting.
here's some things that must become the main concern
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
1. Legal action
2. Do kwon avoid to pay the tax
3. Dissolve the company before the crash like he knows what will be happening.
Im sure that this is the biggest fraud in the crypto and it seems like do kwon must be jailed caused by this fraud. He will face another problem. It's not only retail investors but im sure when more legal action come against him and he will be on the difficult position.
He was dealing with so many people in this case.
It'd be great if this summoning could make out a clear reasoning behind the massive UST collapse.
even better if there is an effort in making LFG reimburse any victims of their UST collapses since UST was supposed to be a coin for reserving wealth not the other way around.
not to mention the massive correction for LUNA that make it almost loses 100% of its value alone should be of concern. after all LUNA is a former of major alts that are ranked 4th so it's not some measly matters that the reasoning for their collapses should be clear.
even better if there is an effort in making LFG reimburse any victims of their UST collapses since UST was supposed to be a coin for reserving wealth not the other way around.
not to mention the massive correction for LUNA that make it almost loses 100% of its value alone should be of concern. after all LUNA is a former of major alts that are ranked 4th so it's not some measly matters that the reasoning for their collapses should be clear.
Something is hidden or not from the eyes of investors, but in reality the CEO definitely knows the real cause of the crash. (I am very glad that I sold this asset at the time).
Definitely, CEO should know the real cause of the crash. Aside from that, it is questionable why they inflate the supply of Terra instead of using their BTC holdings to support the Terra Market. I don't find it convincing how they spend the Terra BTC because the report was to vague and somehow doesn't tally to the value of the sold BTC fund.
I do hope the Luna CEO will be held responsible for the mismanagement, incompetence or possible fraud activities of the Luna Project.
Will this be more troubles for Kwon?
If the assembly lawmakers find out the fraud evidence on Do Kwon's explanation, he is probably in big trouble. He can be sentenced to jail and pay a fine with big money. Luna price dropped very unusually, looks like manipulation or played by a group of people. Do Kwon may have a role in this case as he is the CEO of Luna project, he must know what's happening. If there is evidence of his involvement, he could be charged with a severe sanction. legendary
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I think he maybe caught in some hidden games that led Luna to crash because there are many Luna released to the market. How did that come about if not that it was a game played. Will this be more troubles for Kwon?
I do believe the hidden story is not yet revealed. How the hell they can stop or halt the blockchain and they were refusing to do that and let people to pay the hyper inflation coin with their money. I do believe if that will be more trouble for kwon. The regulators are taking the action and im sure that even when there are so many US citizens that lost their money and that will make SEC to join in the game and they will be investigating this problem.
I hope that we will see the real story behind it and justice will be there. This is hurting so many people and ruining their lifes
yeah you're right, if he tried to fix it they should be able to stop the network and stop printing luna during yesterday's crash. but in reality they were silent and seemed to let everything happen. and what irritates me even more is CEO luna refusing all suggestions and help from other people. he was too confident that he could solve the problem. but look today luna and UST have become shit coins. I hope this person is prosecuted and gets a severe punishment for this matter.
This project is full with so many shady things. Recently CEO of luna was manipulating the vote by changing it into the token power voting after the first voting the majority of holders said no and the mechanism changed by him to make sure if what already targetted by him to create the new token will be getting yes by the majority of holders. he was doing so many manipulation and i guess that hyper inflation case was also a part of manipulation that already made by him as well.
I fully distrust this project. Its CEO pretty similar with scammer.
Tough road ahead for Kwon and the remaining Terra team. I can't imagine how they will recover from this.
I'm curious why they also summoned the exchanges or their representative just because they earned from the LUNA trades. It's in their discretion to stop trading and they usually do it if they find irregularities or if there are reports of hacks.
I'm curious why they also summoned the exchanges or their representative just because they earned from the LUNA trades. It's in their discretion to stop trading and they usually do it if they find irregularities or if there are reports of hacks.
It is sad that cryptocurrency has come to this, Satoshi Nakamoto never imagined a day like this will come where the blockchain he created will now be a tool for scams and Ponzi schemes to thrive.
If we now need government to save crypto investors then I no longer understand what crypto is all about anymore.
Satoshi knew that he could not avoid the appearance of altcoins in the market, as the code of bitcoin was open source it was trivial for anyone with the right knowledge to fork bitcoin or modify the code and release their own coin.If we now need government to save crypto investors then I no longer understand what crypto is all about anymore.
The lessons that we need to learn here are the same as always, do not invest in something that seems to be too good to be true, avoid centralized coins, avoid coins which promise you to earn money after a period of time and avoid dishonest and mediocre developers, I know that if we were to do this then we will have to avoid more than 99% of the coins in the market, but that is precisely my point.
It is easy to say this kind of piece of advice, however, in actuality, we don't know if a certain project will rug pull or not, even if we say, we have done our research. Like for example, this LUNA, it was seemingly a very solid project, no one knew this crash was coming. Maybe, the dev team themselves as they know what's going on internally. But for their holders, I don't think they have idea that there will be dump like this.
Ok, this YouTuber Consider knew what was about to happen.
The South Korea Assemble should watch this video : https://www.youtube.com/watch?v=y_otSD3LYCA
Great overview and explanation of the prediction of how "LUNA" Ponzi scheme could ended disaster, the great things about this overview. Created 2 month ago before this disaster is happened, so is really worth to be watch.
If people want to know too, freely to watch this video.
Great overview and explanation of the prediction of how "LUNA" Ponzi scheme could ended disaster, the great things about this overview. Created 2 month ago before this disaster is happened, so is really worth to be watch.
If people want to know too, freely to watch this video.
He nailed what was about to happen in LUNA + UST. If some holders have watched this, maybe they have cashed out their holdings before this crashed happened.
The South Korea Assemble should watch this video : https://www.youtube.com/watch?v=y_otSD3LYCA
Great overview and explanation of the prediction of how "LUNA" Ponzi scheme could ended disaster, the great things about this overview. Created 2 month ago before this disaster is happened, so is really worth to be watch.
If people want to know too, freely to watch this video.
Great overview and explanation of the prediction of how "LUNA" Ponzi scheme could ended disaster, the great things about this overview. Created 2 month ago before this disaster is happened, so is really worth to be watch.
If people want to know too, freely to watch this video.
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