Anonymous promised to expose Do Kwon’s actions after the Terra collapse and said they will look into his entire history as he is the one to be blamed for the crash and burn of the algorithmic stablecoin so let’s read more today in our latest cryptocurrency news.
The hacker collective Anonymous promised to expose Do Kwon and said they will join governments that are conducting investigations against him. The native token of the LUNA project and UST stablecoin crashed to zero last month which resulted in painful investors losses. This is why Anonymous vowed to explore Do Kwon’s relation to the issue and hold him accountable for the damage that he created.
The Terra collapse was one of the top picks in the crypto space and it all started when UST lost its peg and dropped below the target of $1 so due to the asset’s algorithmic nature and connection with LUNA, traders managed to exploit this and profit by arbitraging it. This drove the tokens’ prices to zero in a matter of days.
Apart from the panic among crypto investors, the crash was devastating to many who distributed millions into LUNA/UST. The reports claimed that some individuals committed suicide because of the losses. Now, the revamped token is not looking great as well with the Luna Classic price predictions not being as optimistic as Kwon is. The hacking organization Anonymous said that Do Kwon is the one to blame and vowed to expose all his secrets, calling him a scammer:
“Anonymous is looking into Do Kwon’s entire history since he entered the crypto space to see what we can learn and bring to light. There is no doubt that there are many more crimes to be discovered in your trail of destruction.”
The additional frauds could refer to Kwon’s relation to another stablecoin dubbed Basis Cash where the South Korean was one of the founders of the project who operated under the name “Rick Sanchez.” Similar to UST, Basis Cash dropped to zero. Anonymous also stated that Kwon has no power to reverse the situation:
“At this point, the only thing that we can do is hold you accountable and make sure that you are brought to justice as soon as possible.”
The intercontinental hacker group supported Ukraine’s cause against Russia also and it breached more than 300 Russian targets that netted over $10 million. They also declared war on Vladimir Putin saying that he will face unprecedented hacks from various corners of the world if he doesn’t cease military operations. At the start of March, Anonymous made the headlines and offered $52,000 worth of BTC to Russian soldiers who will surrender:
“Russian soldiers, everyone who wants to live with their families, children, and not die, the Anonymous global community has collected RUB 1,225,043 in bitcoin to help you.”
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