The hacktivist group Anonymous has promised to look into the actions of Terra (LUNA) co-founder Do Kwon in order to find out if he has done anything wrong.
In a video that the hacking group is said to have made, it was said that,
“Anonymous is looking into everything Do Kwon has done since he joined the crypto industry to find out what we can find out. On your way to ruin, you will definitely commit a lot more crimes.
In May, when the Terra ecosystem fell apart, the cryptocurrency market lost more than $40 billion in value. The organization also said it would “make sure” Do Kwon is “brought to justice as soon as possible.”
Investors lost a lot of money when Terra went down, which shook the whole industry and made the cryptocurrency crisis worse. Some of these investors are said to have put all of their money into what was thought to be the currency of decentralized finance (DeFi).
In the movie, Anonymous said that Kwon had done a number of bad things. For example, they said that he was taking out USD 80 million a month from LUNA and terraUSD (UST) before UST went down, and that he was involved in another algorithmic stablecoin called Basis Cash, which also went down.
In the video, it said:
“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 hacktivist collective also criticized Kwon for his “arrogant” ways of trolling rivals and critics and for acting like he would never fail. It said, “There is a lot of evidence that Do Kwon had bad intentions from the start,” even though people make mistakes and businesses fail all the time.
Anonymous is a group of activists from all over the world who started their work in 2003 on the anonymous social networking site 4chan. The group is known for planning cyberattacks on both public and private organizations, such as the Church of Scientology and government agencies and institutions.
Even though the group has had a lot of success in the past, some users say it hasn’t done much lately.
One Reddit user said, “Despite all their talk, I don’t think I’ve ever seen Anonymous actually do anything.” Another said, “The group hasn’t been important in over a decade.”
As of 10:21 UTC on Monday, LUNA, which was ranked 136th by market capitalization, is now trading at USD 2.21. Its price has gone up 11.4% in a day and 4.6% in a week. Before the switch to Terra 2.0, people used a currency called LUNC. It is now worth USD 0.00007698, which is up 30 percent in a day and 26 percent in a week. It used to be called LUNA.
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