The Anonymous hacking group has threatened to expose the crimes of the co-founder of Terraform Labs, Do Kwon. The hacking group wants Do Kwon brought to justice for the crash of the TerraUSD (UST) stablecoin and the Terra LUNA token.
Anonymous hacking group threatens Do Kwon
The Anonymous hacking group published a video on Sunday recollecting the offenses made by the co-founder of Terraform Labs, Do Kwon. These offenses include Kwon reportedly withdrawing money from the network shortly before the collapse.
The Terraform Labs co-founder is accused of cashing out around $80 million every month from Terra LUNA and UST. Moreover, Kwon was also exposed as one of the developers behind other failed algorithmic stablecoins such as Basis Cash. Kwon was among the co-creators of Basis Cash under the pseudo “Rick Sanchez.”
Your capital is at risk.
The Anonymous video further said, “Do Kwon, if you are listening, sadly, there is nothing that can be done to reverse the damage that you have done. 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 video further said that the hacking group would look into any contributions made by Do Kwon in the cryptocurrency sector. The group said it would discover everything about Do Kwon’s history in crypto and expose all wrongdoings. “There is no doubt that there are many more crimes to be discovered in your trail of destruction,” the group said.
The group also addressed the “arrogant tactics used by Do Kwon to undermine competitors and critics. Anonymous is an international hacktivist group that has launched cyberattacks targeting governments, private institutions, and other agencies.
Do Kwon under investigation
The collapse of the UST stablecoin has attracted regulatory attention. Terraform Labs is being investigated by several agencies in South Korea. The company is being investigated for its role in embezzling Bitcoin from its treasury.
South Korea also revived the “Grim Reapers of Yeouido” unit tasked with investigating the collapse of Terra LUNA and UST. The unit comprises various regulatory agencies. Its role is to investigate fraud and illegal trading activities.
Employees of Terraform Labs have also been subpoenaed by authorities in South Korea to investigate a possible market manipulation. The national tax body in South Korea has also fined the company $78 million over tax evasion.
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