- Kwon clears claims made against him regarding the downfall of Luna.
- He provides an explanation for him not accepting a share from the company’s tokens.
After the Luna debacle, the founder of Terra, Do Kwon, has been facing accusations of money laundering and fraud from the authorities. A few days ago, the US Securities and Exchange Commission conducted a remote video survey that revealed secrets by the key designers of the company.
Kwon has finally acknowledged the allegations raised against him in a Twitter thread and has marked the claim of him cashing out $2.7B as “categorically false.” He also mentioned that the two accusations made are contradictory as one of them says that his wallets are “doxxed,” whereas the other says that Kwon dumped all his tokens and earned billions.
He further stated that he has only earned a “nominal cash salary” in the two past years from TFL. Kwon also explained why there was no token set assigned for him. He said he refused to take tokens because he did not need them and also to avoid “unnecessary finger-pointing,” saying that he was taking too much.
The founder explained that he chose to stay silent all this while as he was avoiding playing the victim card. He says that he, too, suffered losses because of the crash and has requested others not to spread information that is not proven.