TerraForm Labs Founder Do Kwon faces $57M lawsuit - page 2.

ScamViruS

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How many cases already against DK? Is there any parties involve with this because obviously DK can’t do that alone. Well, this scenario is expected since many suddenly lose money where supposed it to be safe. DK have to have to deal with this, there’s no escape here and for sure there will be another case, this may be a case after case, a never ending problem for DK.

Many big people have also lost huge amounts of money due to Luna. DK is not going to get out of this situation easily when the big men are involved. The entire market was affected by the Luna crash. A lot of people have lost their money due to the mistakes of the Do kwon team and are clamoring to get it back. But I think there will be no solution by filing a case against Do kwon because he will never be able to return such a huge fund.

serjent05

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Quote from: Lordsilvabtc on October 29, 2022, 10:41:12 AM

Honestly the fiasco and the circumstances surrounding the Luna ecosystem is totally joepadize. It's really not a good time for Do Kwon. And Do Kwon is not the only one on the loosen side on this matter, I think the entire Luna team needs to go down, Absolutely justice should be served. I loose a lot of money on Luna , which was one of the reason I once make about about bad projects.

I agree that the whole luna team should be sued. All of them benefited from the project and they are the ones controlling the flow and management of Terra LUNA. But definitely, DK should be the one who must have the heaviest penalty. This matter shouldn't have escalated this much if he hadn't touched and modified the LUNC creation that lead to the "hacking" of LUNC. Anyway, I hope to see him caught and brought to court.

Flexystar

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Quote from: Cee2 on October 29, 2022, 10:58:11 AM

Sorry for anyone who has lost money in this fiasco but I am looking forward to the Netflix documentary that will come out in 2026 for this.

What documentary? Is there going to be real documentary for this one. Idk, but that would be interesting to see if they have studied to the inside level and give us the insights on how this happened and what was going on the minds of owners or management?

Till date it’s unclear why this happened and how such huge market cap was swiped off the blockchain in one go. The problem is, due to nature of currency (stable) it was noticeable and was put forth in front of justice eyes.

Imagine, this happening with bitcoin and there is literally no owner in existence to blame on. That would be terrifying for mankind.

Cee2

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Sorry for anyone who has lost money in this fiasco but I am looking forward to the Netflix documentary that will come out in 2026 for this.

Lordsilvabtc

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Honestly the fiasco and the circumstances surrounding the Luna ecosystem is totally joepadize. It's really not a good time for Do Kwon. And Do Kwon is not the only one on the loosen side on this matter, I think the entire Luna team needs to go down, Absolutely justice should be served. I loose a lot of money on Luna , which was one of the reason I once make about about bad projects.

disconnectme

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It seems the power that be in S.Korea are after him, the scale of the damage the UST depeg and the Luna crash did to people's life is huge, I lost huge amount of money in the crash, though I took responsibilities for my own risk but a lot of people got burnt that it will be difficult for them to recover, 3AC is a very good example

blockman

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That's old and Do Kwon is on the loose now. It's also about the fiasco of LUNC and everything that they've made on their projects. No one's gonna save him and even if he surrenders, he'll be continued to be sued. So, it's only likely that the charge will be lessened if he volunteers to surrender but these cases are still heavy for him together with his team. He's nowhere to be found and he's still uncaught while hoping for most of his victims, they want him to be in jail.

Aanuoluwatofunmi

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stead.builders

OP two things were absolutely wrong with your post, first is that this is no more a news to us concerning the subject matter, secondly terra or whatever you call it is altcoins and you should know that should belong to altcoins discussion except if you're claiming you are yet to read the forum's rules and regulations, this board is strictly meant for bitcoin discussion, kindly move the thread appropriately.

LDL

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Do Kwon Owner of the Terra Luna platform are going through various adverse environments and obstacles. After receiving cases from South Korea, USA, Interpol, etc., this case is being started by Singapore. 350 investors in Singapore sued for 57 million in compensation. In May 2022, Singapore filed such a large compensation case based on Luna Crush.

TerraFounder has suffered such huge losses mainly because of the Terra UST stable coin. Terra UST in particular is a stable coin due to a design flaw that drives the price up and down in the market. Therefore, this error in the market has caused losses of millions of dollars to investors since last May. Therefore, in September, South Korean authorities issued an arrest warrant against Terra Founder. This time, Singaporean investors filed a lawsuit seeking $57 million in damages.

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