Creator of Terra stablecoin facing prosecution — fair?
Do Kwon is under investigation in South Korea: “The design and issuance of Luna and Terra to attract investors, but the failure to properly inform them about the flaws, and the unlimited expansion of Luna’s issuance amounted to defrauding investors.”
What do you think — fair?
Trending on Indie Hackers
Here is how they hacked him with a George Soros Black Wednesday Style attack: https://twitter.com/FreddieRaynolds/status/1463960623402913797
Do Kwon was advised and he decided to react like this: https://twitter.com/stablekwon/status/1464897977793728514
A good example of a lack of humility. He probably deserves it since he didn't listen to the community.
Interesting. Yeah I heard this dude had a big ego on him. But I also heard that recently he's been owning up to what he did and apologizing. Who knows how sincere it is, but at least he's taking a smidge or responsibility.
I just wonder if they have a case, legally speaking.
As soon as you ask for a penny to provide a service you become liable to a prosecution.
Seems reasonable to me!
This was too similar to a Ponzi to not get prosecuted for it. the fact that the hack was known seems to me that the guy acted in willful ignorance of the risks.
Crypto is risky. Seems to me that people knew (or should have known) the risk.
Seems fair to me! From what I've read Terra has been one big Ponzi.
This comment was deleted 3 months ago.