Do Kwon’s Alleged $80m Cash Outs Before Terra Debacle Elicit Diverse Reactions

Do Kwon: South Korean Court Issues Arrest Warrant For Terra Co-Founder Do Kwon

Terra (the new LUNA orLUNA2) creator Do Kwon allegedly took $80 million every month before the project failed. Prompting community members to express their thoughts on the topic on Friday.

iexclusivenews reports that a Crypto trader and expert Michaal van de Poppe, claimed in a tweet that Kwon deserves to be jailed.

This online news outlet understands that he likened Terraform Labs’ CEO to famed Ponzi schemer Bernie Madoff. Van de Poppe wrote, “Honestly, he deserves jail.”

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What People Is Saying

DaisiObanla, a Twitter user, agreed with Van de Poppe. DaisiObanla claims he wants to hear the news that Kwon has been sentenced to 150 years in jail without the possibility of release.

Furthermore, football player Nicolas Boulay weighed in. Tweeting that the Terra executive “needs to experience the community’s anger.”

However, while many people support the idea of incarceration, others disagree.

They disagree, according to President Bodhi, who tweeted that “nobody throws casino owners in jail.”

Meaning that investing in the asset was a gamble. Following this, Twitter Druid Andrew claimed that Kwon had done nothing illegal.

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South Korean authorities have begun an investigation into Terraform Labs and its employees for potential Bitcoin (BTC) misappropriation.

The authorities were able to freeze the cash in issue thanks to the help of an exchange platform.

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iexclusivenews Nigeria reports that inquiry was launched after the authorities got a tip from an insider at the company.

In the wake of the Terra fiasco, South Korea’s ruling party announced intentions to establish a digital asset committee that will serve as the industry’s watchdog.

Prior to the foundation of a government institution devoted to crypto, the group will create rules and oversee the business.