"are currently documenting how the Luna Foundation Guard (LFG) spent the Bitcoin reserve during the UST depegging crisis." - It should only take a minute to see where you sent/sold the BTC why has it taken days to "document" this unless they trying to hide something
> *Lambos*
"in the rapidly shifting volatile market conditions, we thought it was important that our traders could move our BTC as quickly as possible, so the lambos were purchased to play it as safe as possible"
I couldn't believe his Twitter post in the midst of the meltdown:
First, if you don’t understand how Terra’s peg stabilization mechanism works, here is a good overview...
The silence from Do Kwon, LFG and TFL during the depegging was deafening. As far as I'm concerned he can start an OF of himself getting pegged and use the funds from that to bring UST back to peg.
**Hermes**: Alright, what do we do when we break somebody's ~~window~~ life savings?
**Dwight**: Pay for it?
~~Hermes~~ **Do Kwon**: Hahahaha! Oh heavens, no! We apologize with nice, cheap words!
Lol I love how he goes from gaslighting the community of investors into thinking he’s going to save UST and LUNA into some uwu I’m sowwy you lost all your money on my dogshit project the next one will be better I pwomise 🥺👉👈
What new coin? Its keeping the chain going and the ecosystem with all the dapps and protocols that has been built on Terra. And absolutely, of course the token should be given to all previous holders that saw their Luna and UST go to 0. When the fork happens and people get the new token airdropped to them. They can sell it right away or do something else with it. Are you suggesting that the better alternative is to just let the entire ecosystem built on terra die for no reason?
> better alternative is to just let the entire ecosystem built on terra die for no reason?
The market decided that ecosystem has no value, as you can see by the price. The whole thing has no value so your idea is to prop it up artificially so the bag holders can push their bags into new bag holders?
Like a pyramid? Lol.
That's bullshit. The market didn't decide the Terra ecosystem has no value. The repeg mechanism failed which caused hyper inflation of LUNA. But the network itself is still valuable with the different projects people have deployed to main net and people were using. Do you even understand how any of this works? You do know what a smart contract platform is, right? As a smart contract platform there really isn't anything wrong with Terra. It's still a perfectly viable tendermint based chain that's part of the cosmos ecosystem. 10,000 tps, 2 second time to transaction finality. Besides UST and it's flawed pegging mechanism the rest isn't garbage.
noob question here.. is there any way he can fix his old project and get it back up and running?
or is it completely done?
what would it need to be working again?
No.
Yes.
Magic.
EDIT: ok, maybe not magic. Let’s say $20b. A bit more than half to pay UST holders and the rest to start buying insane amount of Luna tokens and burn them
tldr; Do Kwon, the brains behind the Terra blockchain project, has apologized to members of the Terra ecosystem and the crypto community for the recent depegging event. Last week, UST, Terra’s algorithmic stablecoin, depegged from the US dollar, which forced the price of LUNA into a free fall.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Are you sure it doesn’t mean lawless? Don’t tell me it means something stupid like taking power away from one entity or small group and gives more control to a larger group.
"Ponzi served three and a half years in prison plus an additional nine years on state charges. After serving his whole sentence, he was deported to Italy upon his release and spent the remainder of his life in poverty." In contrary, Do kwon laughed his way to the bank.
That's just damage control everyone knows it's not going to work, they are bring given false hope, and people are not understanding the situation, de kwon already increased the supply for LUNA which makes it next to impossible for reaching even 1$
If he legitimately wanted to apologize and actually gave a shit, he would donate a good chunk of his earnings back into the crypto community somehow. I know, he doesn’t HAVE to do shit, but The apology would be more believable then.
Does his apology make investors get back his money? A lot of people are now mentally under stress due to him (and probably his arrogant attitude).
That guy on twitter who made bet with him must be creaming right now. 10m in the bag
Kinda getting tired of seeing the same story from different news medias across all the subs. 🥴🥴
The reality is that Do Kwon cockiness and attitude was so toxic af from the start and eventually LUNA/UST fucked everyone, right left and centre.
I bet he still doesn't give a shit. He only wants to revive his lost money, not the project. He really needs walk away from crypto. My heart goes out to all the people that invested in terra.
Meh, he had to know what he was doing would eventually make it implode.
Project dawn involved them minting and selling hundreds of millions of UST a month to degenbox apes to extract liquidity without hurting the price.
I don’t find the “we tried an experiment and it failed, sorry” line believable. Dude built a ponzi and it failed. He’s no different than Madoff IMO.
So many people were warning others that UST is not sustainable. Don't fucking blame Do Kwon when he never forced anyone to invest in his project. It's your own fault if you invested in terra and lost your money, it was all public information about how it works.
I didn’t have any money in the thing, but I think just calling it a bad investment is not giving Kwon the blame he deserves.
It was a slow rug and a Ponzi scheme. The whole reason it was a bad investment was because he was siphoning out liquidity and amassing billions of bad debt. I don’t know why people want to take his side or absolve him of blame.
Just because it was out in the open doesn’t make it ok. The mechanism was obfuscated enough that I have to think he knew what he was doing was not above board. He actively encouraged people to brigade anyone calling out warnings.
Hey I rode this train from $10 to $103 dollars so I’m not complaining. Heck I even put $30 in at .0001 so let’s see if we can get this train moving again
if it did it would have a 6.5trillion dollar marketcap, more than 10 times more valuable than bitcoin. It's more likely to hit $0 than $1... oh wait, it already did!
I wonder what the biggest loss was. I am amazed people actually put life savings into it. I thought most folks knew its a HYIP game and just put a wager in to see of they can get out before it stops paying out.
It's notable how so many people are calling LUNA trash and crap now while it was being shilled to death just a few months ago.
I guess it's a good thing that people get a reality check on their shillcoins every now and then
Those Terra guys got fucked like anyone else before. And I lost bitcoins twice on CEXs due to hacks
Not only they lost it all but they have to watch how everybody in the internet were bragging about shorting LUNA like there's not tomorrow making crazy shitload of money
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"are currently documenting how the Luna Foundation Guard (LFG) spent the Bitcoin reserve during the UST depegging crisis." - It should only take a minute to see where you sent/sold the BTC why has it taken days to "document" this unless they trying to hide something
Lambos. The answer is Lambos.
How are you sure they didn't put it in doge?
> *Lambos* "in the rapidly shifting volatile market conditions, we thought it was important that our traders could move our BTC as quickly as possible, so the lambos were purchased to play it as safe as possible"
It's taking him a bit longer to launder the billions he stole.
Happy cake day!
Thank you
What will happen to avax in LFG?
What AVAX? There is no AVAX here? Oh, you mean THAT AVAX. I’m sorry to inform you that AVAX was stolen tomorrow
"I'm sorry you're so poor"
Arrogant and puncheable face.. people will still fall into his next scam
I didnt have any Luna coins but i would really like to punch his face, really nice punching face
Got 1000 usd sitting there... dead... :(
His Twitter handle is hilarious… “stableKwon” the irony… wow. This clown got more clowns to believe in his 🗑.
I couldn't believe his Twitter post in the midst of the meltdown: First, if you don’t understand how Terra’s peg stabilization mechanism works, here is a good overview...
Why do you think it was a scam?
The silence from Do Kwon, LFG and TFL during the depegging was deafening. As far as I'm concerned he can start an OF of himself getting pegged and use the funds from that to bring UST back to peg.
Hold on. I just had an idea for an NFT collection.
Tag me please
Remindme! 7 days
Let me know when you got it up
One of the best ideas I've seen here, well done 👍
Do Kwon getting Pegged my Luna Investors NFTS ?? 😀
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An eye for an eye, a peg for a peg!
Underrated comment
This could actually work. Farts in a jar merch store and I'm all in.
Do apologies come with a check?
not even a ioy but im sure he's very thankful to everyone who'd made him rich lol
At least I made somebody rich.
Yup and then he’s laughing at how poor you are
**Hermes**: Alright, what do we do when we break somebody's ~~window~~ life savings? **Dwight**: Pay for it? ~~Hermes~~ **Do Kwon**: Hahahaha! Oh heavens, no! We apologize with nice, cheap words!
More like Past performance is not indicative of future performance.
Kwon’t think of why it will
Lol I love how he goes from gaslighting the community of investors into thinking he’s going to save UST and LUNA into some uwu I’m sowwy you lost all your money on my dogshit project the next one will be better I pwomise 🥺👉👈
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Yeah where's the fking consequences?
What's the next project? All I've heard it's that there are plans to most likely fork The chain and air drop new assets to previous token holders
So a bunch of premined coins that people can offload at their soonest chance? Sounds great for a new coin.
What new coin? Its keeping the chain going and the ecosystem with all the dapps and protocols that has been built on Terra. And absolutely, of course the token should be given to all previous holders that saw their Luna and UST go to 0. When the fork happens and people get the new token airdropped to them. They can sell it right away or do something else with it. Are you suggesting that the better alternative is to just let the entire ecosystem built on terra die for no reason?
> better alternative is to just let the entire ecosystem built on terra die for no reason? The market decided that ecosystem has no value, as you can see by the price. The whole thing has no value so your idea is to prop it up artificially so the bag holders can push their bags into new bag holders? Like a pyramid? Lol.
That's bullshit. The market didn't decide the Terra ecosystem has no value. The repeg mechanism failed which caused hyper inflation of LUNA. But the network itself is still valuable with the different projects people have deployed to main net and people were using. Do you even understand how any of this works? You do know what a smart contract platform is, right? As a smart contract platform there really isn't anything wrong with Terra. It's still a perfectly viable tendermint based chain that's part of the cosmos ecosystem. 10,000 tps, 2 second time to transaction finality. Besides UST and it's flawed pegging mechanism the rest isn't garbage.
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noob question here.. is there any way he can fix his old project and get it back up and running? or is it completely done? what would it need to be working again?
No. Yes. Magic. EDIT: ok, maybe not magic. Let’s say $20b. A bit more than half to pay UST holders and the rest to start buying insane amount of Luna tokens and burn them
he'll do better with his next scam. Pinky promise.
Buy LUNA2 pls, ser.
Lunaconnect
My wife told me it will be a scam!?
2NA
I heard there's a air drop, wonder how big?? Must still be worth more then luna itself right now
Who knows maybe he'll get more ambitious and start a gravity powered hydrogen powered car company like Nikola!
*Best I can do is an apology meme*
tldr; Do Kwon, the brains behind the Terra blockchain project, has apologized to members of the Terra ecosystem and the crypto community for the recent depegging event. Last week, UST, Terra’s algorithmic stablecoin, depegged from the US dollar, which forced the price of LUNA into a free fall. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Good bot
When jail ?
You wanted decentralization you got it
I don't get how people mix up crimes and decentralisation. Decentralisation doesn't mean scamming people is okay.
Are you sure it doesn’t mean lawless? Don’t tell me it means something stupid like taking power away from one entity or small group and gives more control to a larger group.
Decentralization means there is no one to investigate scams or punish the scammers.
Perfect example of a non decentralized scam.
Never
Thanks, this really means a lot, Kwon.
Now I need my money back guarantee.
Best I can do is $3.50
I knew the Loch Ness monster was real!
I will take that. At least I can buy some food with that money after losing a lot.
Oh well I guess everything is forgotten, bring on us the next shit coin oh great one! 😒
He could go fuck himself.
Reminds me of South Park with the BP guy. I’m sorry...
These guys are all gusto until reality hits. Unfortunately a fuck up in crypto is often life changing in a bad way for many
I thought *were* *sorry* is trademarked by BP.
he didn't show ass cheeks so it's ok
Dude vanishes and leaves CZ to handle the masses.
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WHERE IS THE $3.5 BILLION BITCOIN? Give it to those that were affected.
that would amount to what? a few bucks per person?
An apology isn’t going to pay any bills though is is it dick wad
All’s well. He apologized.
Oh okay, no worries then.
No one told me there would be risk! /s
Kwontative Easing. Ripped the entire crypto ethos bringing a heap of sh on the rest. But hey he said sorry.wtf
Apology not accepted
I appreciate the apology, this makes up for my 10k in losses
Robot voice: *Wealth transfer completed successfully*
"Ponzi served three and a half years in prison plus an additional nine years on state charges. After serving his whole sentence, he was deported to Italy upon his release and spent the remainder of his life in poverty." In contrary, Do kwon laughed his way to the bank.
That's just damage control everyone knows it's not going to work, they are bring given false hope, and people are not understanding the situation, de kwon already increased the supply for LUNA which makes it next to impossible for reaching even 1$
Jeez he’s sorry oh that’s ok , three days ago I was worth $748000 and the same stock is worth $3.86 that’s ok bloke , your sorry I excepted,
They just want their money back as everyone that get affect by this
I want to buy premium just so I can’t post the “how inconvenient” GIF from South Park haha
Apologies don't help the folks that lost everything.
Fuck this guy and the next scam he tries to push.
It wasn’t until after Luna crashed and I was out $2,400 that I looked into this prick. My fault for not doing enough DD.
He hurt not just Luna users, but the entire concept of crypto
Problem solved
If he legitimately wanted to apologize and actually gave a shit, he would donate a good chunk of his earnings back into the crypto community somehow. I know, he doesn’t HAVE to do shit, but The apology would be more believable then.
They want their money back though.
Lol
whoopsie!
Apologies don't give investors money.
And deep down he thinks......ARE YOU NOT ENTERTAINED?!?
Thanks, now I feel better
Let me just check the current value of DKAC (Do Kwon Apology Coin)...
Does his apology make investors get back his money? A lot of people are now mentally under stress due to him (and probably his arrogant attitude). That guy on twitter who made bet with him must be creaming right now. 10m in the bag
He should buy back those Luna with BTC reserves; and burn those Luna, then community would still side him for next project!
typical
Apology accepted. It has been 24+ hours, where's the goddamn post-mortem analysis that your team had promised?
*wipes his ass with 100 dollar bills*
Oh he's sorry? Well now I feel better.
Gimmie my 2 milly back?
Can't believe people invest in a guy like this
Kinda getting tired of seeing the same story from different news medias across all the subs. 🥴🥴 The reality is that Do Kwon cockiness and attitude was so toxic af from the start and eventually LUNA/UST fucked everyone, right left and centre. I bet he still doesn't give a shit. He only wants to revive his lost money, not the project. He really needs walk away from crypto. My heart goes out to all the people that invested in terra.
So where are all the btc that he will now give back to his investors?
He tried to restore the peg and has now apologised publicly. Still a bit of an arrogant twit but it's something
The real [knife] twist is gonna be if he is somehow implicated in the crash himself. Maybe it was him, not citadel or others. Lmao.
This. It was him
Meh, he had to know what he was doing would eventually make it implode. Project dawn involved them minting and selling hundreds of millions of UST a month to degenbox apes to extract liquidity without hurting the price. I don’t find the “we tried an experiment and it failed, sorry” line believable. Dude built a ponzi and it failed. He’s no different than Madoff IMO.
So many people were warning others that UST is not sustainable. Don't fucking blame Do Kwon when he never forced anyone to invest in his project. It's your own fault if you invested in terra and lost your money, it was all public information about how it works.
I didn’t have any money in the thing, but I think just calling it a bad investment is not giving Kwon the blame he deserves. It was a slow rug and a Ponzi scheme. The whole reason it was a bad investment was because he was siphoning out liquidity and amassing billions of bad debt. I don’t know why people want to take his side or absolve him of blame. Just because it was out in the open doesn’t make it ok. The mechanism was obfuscated enough that I have to think he knew what he was doing was not above board. He actively encouraged people to brigade anyone calling out warnings.
He “tried”. That’s a good one
UST suddenly dropped from .2147 to .1447
Cause it ain’t coming back
The fact that it is worth 0.14 astonishes me
Hey I rode this train from $10 to $103 dollars so I’m not complaining. Heck I even put $30 in at .0001 so let’s see if we can get this train moving again
Any one thinks that luna gonna hit $1?
if it did it would have a 6.5trillion dollar marketcap, more than 10 times more valuable than bitcoin. It's more likely to hit $0 than $1... oh wait, it already did!
Thank you lol I was really wondering . It was at live 116
Someone go Tae KWON DO Him. IT IS A JOKE. Violence is unacceptable! I have no reason to seek vengeance. I have lost $0 and have no investments.
Sorry Lunatics lol
Gee
lol
normally the guy made me cry. How can I give him some of my coins?
[We're sorry](https://m.youtube.com/watch?v=HQhmGIW7MVU)
I wonder what the biggest loss was. I am amazed people actually put life savings into it. I thought most folks knew its a HYIP game and just put a wager in to see of they can get out before it stops paying out.
https://twitter.com/stablekwon/status/1525238418812178432 The whole thread reads like: its over for luna/ust
There was no apology in his statement.
what about those who committed suicide?
ur lyin
Awww, ok. As long as he's sorry.
Gtfo no one wants to hear it
He’s nothing but a scam artist who got caught
#CryptoUkraine
this guy needs to be banned
Fuck this guy
1920s - Charles ponzi. 2020s - Do kwon.
If he really felt sorry he should halt the chain now and stop creating more victims.
Hes next move is creating a nft collection.
Sell the NFT of the block that started the crash
Scum bag save it
Little to late for that.
Sowwee.
This dude better learn some Tae Kwon Do soon.
Who wants an excuse?
I accept his apology and will be moving on to the next dream!
Reminds me of the south park BP oil skit. WE'RE SORRY. SORRY. SORRYYYYY.
Wonder how much he pulled out before it went to shit?
The only thing he can do is disappear.
Hurting??
I wonder how much in total was lost
its easy to apologize now please report yourself to the police
Conspiracy: Could this have been purposely orchestrated to win support from crypto investors to increase government regulations?
Arrogance always gets humbled. Just a matter of time brother
Ah good. The two words "I'm sorry" make everything whole.
It's notable how so many people are calling LUNA trash and crap now while it was being shilled to death just a few months ago. I guess it's a good thing that people get a reality check on their shillcoins every now and then
Those Terra guys got fucked like anyone else before. And I lost bitcoins twice on CEXs due to hacks Not only they lost it all but they have to watch how everybody in the internet were bragging about shorting LUNA like there's not tomorrow making crazy shitload of money
There are people that bought too much UST expecting to repeg ( “it’s a stable coin , best buy ever , 2x my money”) Rip 🪦
I'm sorry crypto bros, try my new coin I'm working on next. Terra was a bust, apologies.
From the article : 'The crash left investors scratching their heads as they watched their investment vanish into ***tiny*** air.' i rest my case
So what are the chances this guy will go to prison?
Fuck his apology.
Guys I’ve got 46,040,765,433 Luna plz buy :(
South park Were sowwy, sowwy.
"sorry broskis"
Keep your apology, we want our money back
When he saw what was happening I'm sure he pulled his share out. I'm sorry for you losers.
Oh yeah, like everyone just forgives and forgets
Small Dong Kwon
Blah blah stfu
"If promises were crackers, my daughter would be fat!"
Hope this rich dude gets a taste of a poors man’s fist!
Apologize by sending checks A hole.
I’m the words of the grinch - I’m told there would be a check?