Co-founder of Luna cryptocurrency token accused of embezzling $ 2.7 billion

FatMan insider continues to insist that Do Kwonis to blame for the fall of UST/Luna cryptocurrencies by withdrawing $ 2.7 billion through Degenbox.

Due to the borrowing protocol and the large amount of liquidity provided by those willing to invest at 20% per annum, Do Kwon, according to the insider, could withdraw more than two and a half billion without an immediate impact on the stablecoin rate. This, however, helped UST to finally fall when people began to withdraw their funds en masse — there were not enough reserves.

The blogger and the media are distributing some screenshots of Terraform Labs' transactions, which show that $ 558 million was withdrawn to KuCoin, $ 1.08 billion to Binance, and $ 545 million to Huobi.

The public is demanding more serious evidence from Do Kwon than «well, it’s not me, guys.» Especially since it was Do Kwon who convinced everyone of the unreliability of centralized stablecoins and the quality of UST.

Recently, the Seoul police launched an investigation into a report of a «suspicious cryptocurrency wallet» that could have been used to steal bitcoins by employees of the Terra insurance fund. A court in the United States has ordered Kwon to appear at a hearing.

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