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Do Kwon’s Crimes will Be Brought to Light, Vows Anonymous

Written by: Nidhi Kolhapur

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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Jun 27, 2022

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Terra’s demise shocked people all around the world. A few people issued significant threats to the project’s developers, while others experienced severe loss and desired justice. 

South Korea continues to investigate the stunning collapse of the crypto project in great detail. 

Amid the turmoil, Kwon lives in freedom and even launched another initiative. However, many people, notably the hacktivist community ‘Anonymous,’ found this infuriating and disrespectful.

Anonymous released a YouTube video to take control of the situation. Regarding the failure of the Terra (LUNA) and TerraUSD (UST) ecosystems in May, the hacktivist group has vowed to ensure that Do Kwon, Terra’s designer, and founder, is “brought to justice as soon as appropriate.” The group was confident that Kwon was also responsible for several other atrocities.

Terra on the radar of community hackers

On Sunday, a webcast made by the hacking group Anonymous rehashed a long list of Kwon’s alleged wrongdoings, including withdrawing $80 million per month from Luna and TerraUSD before its collapse and his part in the failure of the stable coin Basis Cash, which Do Kwon is accused of co-creating in late 2020 under the alias “Rick Sanchez.”

“Unfortunately, nothing can be done to undo the harm that Do Kwon has caused if he isn’t listening. The only thing the community can do at this stage is hold you responsible and make sure you are prosecuted as quickly as possible.”

Do Kwon’s acts since entering the crypto world will be investigated, according to the hacking community, to uncover his alleged misdeeds. The hacking group also lambasted Kwon for using “arrogant tactics” to harass opponents and detractors and for “appearing as if he will never fail.”

Anonymous said it was investigating Do Kwon’s whole career since he entered the crypto industry to see what it might reveal.

Anonymous, which has its roots in the 4chan forum and was founded in 2003, is well-known for planning cyberattacks on public and commercial organizations and the Church of Scientology.

The same YouTube channel also attacked Tesla CEO Elon Musk in June 2021 for supposedly “damaging souls” by leveraging his power and influence on Twitter to manipulate the cryptocurrency markets. As of now, 3.4 million people have watched their video.

The Community Despairs

The community on Twitter and the YouTube comment section both seemed to favor the hacker group’s promise to pursue Kwon. One user referred to Anonymous as “Today’s Robin Hood.”

However, On the r/CryptoCurrency subreddit, commenters criticized the hacker group for issuing an empty threat against Kwon and giving no new information to the public, criticizing them for issuing the false threat:

“Anonymous is currently a very teeny bop. This anonymous clip is so unthreatening it almost seems strange.”, 

“I would have expected them to have found something, but all they found was, well, nothing.” 

These were just some of the comments below the video. 

Do Kwon’s legal strife 

Kwon seems to be facing more significant, more immediate dangers than Anonymous for the time being.

He is the subject of numerous investigations by South Korean authorities. One of these investigations relates to the theft of Bitcoin (BTC) from the company’s treasury.

South Korea resurrected the “Grim Reapers of Yeouido,” a renowned financial crimes investigation division, to look into Terra’s demise. The team, which includes different regulators, will concentrate on bringing fraud and unlawful trading schemes to justice.

The following month, the Korean government summoned every Terraform Labs employee to testify to look into any possible internal involvement in market manipulation.

As a result, the business was also assessed a $78 million penalty for tax evasion by the National Tax Authority of South Korea.

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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