Luna CEO summoned by lawmakers

[asriloni]

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.

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[Tellek Garing]

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.

Am beginning to think that the luna ceo work with the hackers who cause the coin to crash, community members drafted out a way to make it out of this situation.

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.

[leea-1334]

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.

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?

[Maestro75]

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.

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.

[capedbaldy]

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.

[asriloni]

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.

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?

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.

[alisonwonder]

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.

[TopT3ns]

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.

[d3nz]

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.

[TravelMug]

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.

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?

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.

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.

[cheezcarls]

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.

[Quintrix]

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.

[avikz]

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.

[roslinpl]

Luna had his last funeral already, so this can’t be help to bring the investors again to the Luna. My suggestions to the investors will be, better to avoid of wasting huge money on Luna. It’s better to hold the money in the bank itself, instead of making the investments and loss the money again. This will not work at any circumstances, the investors loss the hope on the Luna now.

[Tellek Garing]

I believe the summoned will aim to compensate investors whose losses have amounted to billions of dollars in total, and the small investors and big investors should get their money back, luna crash is the biggest cryptocurrency scam in historians this is bad for the network. This is not the best time for the CEO to play any dull and unsmart moves as their chances of recovering from this is slim, so any mistake in the recovery process may lead to a further crash of the Luna there network.

Swishing chains and making a new coin may amount to surplus supply and that will affect the price of the coin.

[Dart18]

Sooner or later this should happen. He should answer all the questions and it's a long line already. Like, "What the f*** happened?" 
It's like he is already making a new path without answering much about the first problem. And shockingly, it's that fast. Just how many weeks was it?
In my opinion, that ain't solution, he is escaping something. Could be jail time.
A lot of money is gone and investors are still asking and yet he let it come to this.

[lixer]

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 I also saw that info somewhere. That means the guy really mean it. It was not an accident or something but they already plan to scam people right at the start. They only get the people's trust and when many people believes on them and think they are trustworthy, that's the time they will pull off their trick.

If only those poor people did a research about this guy if what is his background, they will know that this guy is not trusted because he already did some shady acts on the past but it was too late for them to realize it. I just hope that they won't repeat the same mistake and never underestimate the power of research next time.

[evilgreed]

               Well, the speculation is indeed plausible but I'd rather not judge the guy and his team until proven guilty. Also, being summoned by law makers was inevitable and was bound to happen sooner or later the Terra Luna issue is in no way a small thing. This issue involves a huge amount of investments from lots of people which is something that cannot be easily ignored. I'm pretty skeptical about the fork that he and his team are pushing so hard though. Not that I am saying I am better than them but I just think that the investors should have the right to vote as to how they want this to proceed or what solutions should be used.

[leea-1334]

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 I also saw that info somewhere. That means the guy really mean it. It was not an accident or something but they already plan to scam people right at the start. They only get the people's trust and when many people believes on them and think they are trustworthy, that's the time they will pull off their trick.

If only those poor people did a research about this guy if what is his background, they will know that this guy is not trusted because he already did some shady acts on the past but it was too late for them to realize it. I just hope that they won't repeat the same mistake and never underestimate the power of research next time.

Of course. 99% of altcoins,,, do you think the devs and owners really want to change the world? If true,,, why do they need to launch ICOs and IDOs or sell things made out of zero value?

As I said I totally blame the people because scams was obvious.

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.

They knew it was a scam but like all buyers think they can get in early before it crashes. Pathetic but that is what you get with altcoin 'communities'.

[vv181]

They are all yelling for the government to help them all. what a pathetic community.

Investors pressuring the government to take an inspection of Luna's fiasco may sound plausible. But the bigger picture is the government taking this chance to furtherly regulate cryptocurrencies, they stated it as willing to protect investors for a future reference but on the other hand, I think it rather will make cryptocurrency will be more tightly regulated, in the name to prevent a scenario like Luna and UST. I'm afraid they are willing to take this chance to fasten limitate cryptocurrenices developments/usages.