Luna CEO summoned by lawmakers - page 3.

wxa7115

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Bitcoin is GOD

Quote from: StarKay on May 18, 2022, 12:34:00 PM

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.

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.

batang_bitcoin

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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.

MonsterV

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Quote from: StarKay on May 18, 2022, 12:34:00 PM

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.

I am sure that the founder of cryptocurrency has never envision for something bad like this to happen, but on contrary, for the crypto world to prosper and be beneficial for all. However, we cannot prevent such event because of people’s intentions, which differ from one another. I believe that government intervention has entered the picture because the welfare of citizens has been affected, that being said, the involvement of large scale complaints and such.

Little_Sister

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Quote from: inanilujimi on May 18, 2022, 12:09:29 PM

I hope he solves all the problems first instead of having to come up with something new again.
How could he make Luna again and leave the current luna as a community token only Huh

As if to run away from problems, but in fact new, bigger problems will continue to approach.

I guess he knew that it wouldn't work to ignore the community rather than the pool of support from the project, I was surprised that he prioritized his own desires over CZ suggestion. So they deserve an examination from the authorities to find the core of the problem that has caused investors' losses.

StarKay

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We All Can Make It

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.

inanilujimi

sr. member

Activity: 1876

Merit: 259

I hope he solves all the problems first instead of having to come up with something new again.
How could he make Luna again and leave the current luna as a community token only Huh

As if to run away from problems, but in fact new, bigger problems will continue to approach.

aprilnot

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Quote from: TastyChillySauce00 on May 18, 2022, 04:59:15 AM

Quote from: Maestro75 on May 18, 2022, 03:53:10 AM

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.

Gozie51

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Quote from: Maestro75 on May 18, 2022, 03:53:10 AM

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.

drumamat

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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).

TastyChillySauce00

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Quote from: Maestro75 on May 18, 2022, 03:53:10 AM

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

Nivia1st

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Quote from: Maestro75 on May 18, 2022, 03:53:10 AM

Will this be more troubles for Kwon?

yes, this will be a big problem. he will be charged with fraud because of his stablecoin. I heard there is currently an attempt to confiscate the personal assets that he owns. This problem caught the attention of many people because there were many who suffered losses due to the collapse of Luna and UST. and I doubt he'll escape prosecution this time.

Beparanf

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He deserves that and his team that bunch of egoistic that didn't care about retail investors. Until now he is insisting to fork the Luna and leave the retail traders with useless Luna Classic while the rest of his gang that enjoy ponzinomics on anchor for long time will have the reset and off the hook easily? He should be put in jail and seized all his asset. Let the court distribute available funds to all the victims and prioritize small investors.

CZ suggestion is what make sense, I don't care if CZ is just bullshitting and playing the good man here but his statement about buy back or retail trader refund is the best path if he wants to continue Luna project.

Maestro75

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The CEO of Terra Luna, Do Kwon will be explaining to the South Korean Assembly what actually happened to Luna that has caused many investors to lose their money in the investment. He has been summoned by the assembly lawmakers to explain what he has been doing to safeguard investors after the sad crash of Luna.

According to the spokes person, Chang-Hyun "We should bring related exchange officials, including CEO Do Kwon of Terra, which has become a recent problem, to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors." Chang-Hyun also wants crypto exchanges to account for their behavior during the crash.

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?

https://www.theblockcrypto.com/post/147269/south-korean-politician-calls-for-hearing-terra-do-kwon

Topic: Luna CEO summoned by lawmakers - page 3. (Read 405 times)