As co-founder and CEO of Terra Do Kwon broke his silence over the fall of algorithmic stablecoins TerraUSD Classic (USTC) and LUNA 2, the community reacted with a variety of criticisms of the Terra executive, as reported by Cointelegraph.
The Terra CEO continues to be unpopular with the community despite Kwon’s attempts to defend himself in an interview. Podcaster Eric Conner contrasted Do Kwon’s predicament to that of the Tornado Cash creator who has been detained in a tweet. Conner claims that while Tornado Cash developers developed some programming for privacy and are now “fearing for their life,” Kwon defrauded billions of dollars and is still “partying.”
Additionally, crypto analyst FatManTerra commented on Kwon’s interview. The interview was dubbed a “nothingburger” by the researcher. According to a tweet from FatManTerra, the CEO of Terra lied on a number of occasions throughout the interview and attempted to describe fraud in a way that avoided being implicated but failed to do so.
Bitcoin evangelist Klippsten urged anyone who suffered financial losses as a result of the Terra collapse to file a lawsuit against Do Kwon. On the other hand, expert Hailey Lennon feels that the public should not pay attention to the Do Kwon interview. Because she felt the link didn’t merit clicks, she decided not to share it, Cointelegraph noted.
Earlier in June, employees of Terraform Labs were prohibited from traveling by South Korean authorities. Kwon is already in Singapore, though, so the authorities might think of revoking his passport in order to start a thorough inquiry into him.
South Korean authorities took action against those connected to the Terra collapse in July. Investigators searched 15 locations, including Upbit, Bithumb, Coinone, Korbit, and Gopax exchanges. The action was a response to the numerous legal complaints that the stablecoin event had resulted in against the corporation, Cointelegraph noted.
(With insights from Cointelegraph)