Do Kwon in the crosshairs of Anonymous

Do Kwon in the crosshairs of Anonymous

Do Kwon in the crosshairs of Anonymous

The Internet is a world of its own where its citizens mostly are free to live however they want. Some choose that freedom to chase their dreams, and others use it to pursue their evil plans. In the midst of it all, there is a collective that uses the power of the Internet for the greater good through cyberattacks against corrupt parties.

Its name? Anonymous. Known for its signature anarchic videos and a flair for comic book-style drama, it recently called for the release of Ross Ulbricht, the creator of the infamous drug marketplace on the deep web, Silk Road. Now, its crosshairs are on a person that we all know: Do Kwon, the creator of Terra Luna.


What did Do Kwon do?

Do Kwon created the Terra Luna project, which was a blockchain with two tokens: the stablecoin UST and the LUNA token. As an algorithmic stablecoin pegged to the dollar, UST held its value through a supply and demand relationship with its partner LUNA token.

However, this relationship was exploited, causing the price of LUNA to dive to zero from a market cap of nearly $30 billion dollars, and UST depegged down to $0.02 at the time of writing.

Do Kwon’s hopes of Terra Luna to be the default world currency of the Internet were thwarted in under a week. However, what if his hopes actually were evil plans meant to make him one of the richest scammers that ever lived, disguised under a failed protocol?


Who is Anonymous?

Anonymous is a global decentralized activist and hacktivist collective that is known for its cyberattacks against governments, institutions, and corporations that they deem morally corrupt or a danger to society as a whole.

It has operated since the early 2003s after its formation on 4chan, and its members are recognizable by their Guy of Fawkes masks from the V for Vendetta movie. Many individuals have been investigated and arrested for their involvement with Anonymous, and TIME even called the collective one of the most influential people in the world in 2012.


Anonymous warns Do Kwon

In its latest video, Anonymous accuses Do Kwon of arrogance, highlighting the time that the Terra CEO said that it is entertaining to watch companies die. They blame him directly for the scamming of billions of dollars from retail investors in the Terra Luna collapse, citing rumors that Do Kwon was cashing out over $80 million per month before the collapse, apparently coming straight from the mouths of Terra Labs employees during interviews with the SEC.

Secrets tend to be uncovered when somebody loses money, and in the case of Do Kwon, he was revealed to be the anonymous co-founder of a previous failed stablecoin project called Basis Cash.

Inevitably, many retail investors could have lost money in this project too, and Anonymous states that Do Kwon was never held accountable due to his anonymity, but even had the audacity to tweet about how Basis Cash is a “zero sum game”.

Anonymous state that they are “looking into Do Kwon’s entire history since he entered the crypto space. There is no doubt that there are many more crimes to be discovered in your trail of destruction.”

Will more secrets be revealed in the near future? From the collective that fully broke PlayStation Network’s servers and shut down Visa and MasterCard’s websites, anything is possible.

This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

Get insider crypto knowledge and product updates from the world’s leading crypto wallet
Sign me up