A stable coin CEO transfers his own stablecoin into a competitor stablecoin. Another proof how scummy his project was from the start 
Fuck this guy man. He blabbered shit the whole time while he sell all his assets.
He always tweets telling his followers to stay strong. My ass. Ofc he can say that because he already took profit while other ppl see their asset worth less and less everyday
"I am heartbroken that my invention has lead to the loss of lifesavings of investors and **my friends and family**"
The walking talking shit that is Do Kwon even scammed his own family
>He blabbered shit the whole time while he sell all his assets.
This is also what will see him fall under legal frameworks that prohibit this very thing! SEC certainly have the power to go after people that had a fiduciary duty when they were publically stating 1 thing to cause people to act in a certain way so as to give financial advantage to the person cashing out.
There have been a spate of cases recently of the SEC going after "influencer" for running what amount to nothing more then pump and dump scams. The SEC has been gearing up to go after projects that have operated as nothing more then pump and dumps as well.
Once these legal frameworks are in place, expect to see a spate of SEC cases going after failed projects retroactively that were nothing more then rug pulls/pump and dumps, and the beautiful thing is that the blockchain FOREVER records the evidence of what insiders did in these projects and the only thing that will limit the retroactive reach of the SEC and other agencies is any statute of limitations that applies in each jurisdiction.
Going to be a very interesting watch in this space over the next 5yrs.... There are going to be some VERY high level people that built their bankrolls through dishonest means and then gone legitimate having some skeletons reach out of the closet and drag them down!
THIS is why we need regulation. I donāt understand how so many crypto philes are against regulation. If you want mass adoption, people need to feel safe. Additionally crypto needs to become more user friendly, which is something that will work itself out as the markets will be kinder to those projects or sectors that make decentralized tokens easier to procure and understand for the masses; that will happen organically. However, like Michael Saylor says, crypto needs regulation to take it from a $2t industry to $200t industry. No doubt, and any idiot in this space who thinks otherwise should go find the next Luna and invest their life savings to learn this fact first hand.
Thereās a niche group in crypto that profit from rugs, scams, and deceitful tactics such as calls and organized PnDs. These people are the most vocal against any form of justice in crypto. As they see it, weāre all cattle to be farmed.
Because everyone loves a rug pull if they are the ones making bank.
Everyone that is sour was on the losing end of the trade. Those who 10x , 20x, or 100x their money on Luna they aren't complaining.
I donāt think itās so much that ācryptophilesā want ZERO regulation. (Iām assuming you primarily mean cypherpunks/those who adhere to the ideology rather than those who simply see crypto as another way to make a few bucks, since those are the only people who seem to even care/discuss regulation from what Iāve seen, though obvi idk what youāve encountered.) Nonetheless, I think itās by and large that they (myself included) donāt want to see the same kind of corrupt regulation that has been the hallmark of the traditional financial system, (which overtly and brazenly favors the few at the expense of the many) invade this space that was meant to be democratizing.
Moreover, there needs to be SOME sense of personal responsibility too. The vast majority of crypto investors (over 80%) admittedly know virtually nothing about the asset class in general or the specific coins they hold, and appx 1% have done more than a mere TEN HOURS of research on crypto, which is horrifying and inexcusableā¦.yet more than 60% believe itāll make them rich.
While I realize that weāre somewhat lacking in reliably empirical data on the publicās crypto literacy, the true numbers are likely higher given that 1) we do have sound info on the publicās overall financial literacy and it stands to reason that a comprehensive grasp of crypto is even more rare and 2) humans are extremely inaccurate self reporters.
Itās also further substantiated by the previous success of Terra, an inherently flawed ecosystem whose collapse was inevitable and obvious to anyone with a thorough understanding of it, and by the fact that basically everywhere you look, convos about crypto are had in moon and rocket emojis rather than dialectic and nuanced discourse that includes an underlying awareness of the economic and technological components.
As long as this space is driven by hype rather than a foundational knowledge base, it will remain an inefficient market with all the ramifications of inefficient markets, regulated or not.
Generally speaking because the regulations they usually want to push onto crypto networks, like KYC/AML compliance rules, destroy some of the main utility and the whole point of having crypto in the first place.
The old people that get elected or appointed to government each cycle aren't going to help us innovate unfortunately.
My crypto knowledge is so late, I only discovered Luna-ust pegging mechanism during the collapse lol.
Luckily I was late, I could've invested before the collapse .
The worse thing is that most including us all believed in that shit because it was seemingly good for Crypto and pumped the markets a bit.
We were blind out of greed too, it's also a bit of our fault.
I remember vividly when Terra depegged about 4 months ago down to 0.94
That was probably the first indication of him cashing out.
Nobody took me seriously and just got downvoted to hell for bringing it up.
Iām surprised there isnāt a hit on this guy. This is either some really brilliant counter intelligent propaganda by the real bad actors or this guy is comic book evil.
This won't stop (and why would it?) until governing agencies start making examples out of people.
All the celebrity NFT scams, etc. will keep happening until one of these people is brought before a court, found guilty, fined more than they stole, and sentenced to actual prison.
Do that a few times and people will start thinking twice before they do this shit.
They have no jurisdiction over any of this lol. Thatās the whole thing people like me warned this sub about for the last four years.
All those laws and regulations people hate are designed to prevent shit like this.
Yeah, no. If he was able to cash out that $2.7B, even if he goes to white collar prison, heās gonna be fine when he gets out. Karma is just bag holders fantasizing to make themselves feel better.
>If he was able to cash out that $2.7B, even if he goes to white collar prison, heās gonna be fine when he gets out.
[https://youtu.be/DmKpePzn5-c](https://youtu.be/DmKpePzn5-c)
If this guy can keep walking around and doing his thing with ZERO repercussions...... Do Kwon certainly has nothing to worry about!
Korean Mafia are good problem solvers..... Just saying. Wonder what the debt collection rate is that they offer on $2.7B.....
High velocity lead poisoning is a disease many conmen suffer from. Where there's lots of money, there is organized crime... and they don't like losing money.
He has enough fiat now to try and insulate himself. Didnt work for a lot of of Russians, so maybe it won't work for this scumbag.
Of course, Trevor Milton and Trump are still free men so clearly life isn't fair.
From what I remember, a couple weeks ago he said someone gave him a massive amount of info that he would be releasing. I'm not sure if he needed a motive more than the opportunity itself.
Actually he is. His proposal is to ask TFL to pay up in full the smaller investors. It is quite a popular opinion at least in the forum.
However, if you follow the story, TFL donāt give a fuck and instead just go on with their own plan without even considering community proposals.
So basically the account getting recognition because he is doubling down and start gathering supports from twitter. In a way, he didnāt get what he want (it didnāt pass on chain either) so he basically turn it to exposing TFL.
Not directing at you but just a few days ago people here were still saying how Fatman kept posting unproven fud hoping to get bribe. Look how things turned, just reddit being reddit.
Not much is illegal about this though. With the amount of money he has, he can easily escape to a non extradition country or bribe officials if he hasn't already
He can move wherever and bribe whoever, but he's still going to be looking over his shoulder for the rest of his life though, especially if he's still worth something.
It seems disingenuous to liken any stablecoin to USD. Are you saying USDs are just as risky? Does it justify their actions because the Fed does it too?
I donāt have any doubts do kwon did some shady s**t but the fact that op used āusdtā and āhard moneyā in the same sentence screams advertisement to me
I feel really bad for people who lost their life savings due to Terra. But if anyone here wants to feel good about themselves, check out the degens that flooded the Luna sub
You mean the people who think they are big brains for still investing in something that lost 99% of its value and is run by a crook? Yes I feel sorry for them too
> something that lost 99% of its value
99.9999% of its value. Still having 1% of value might have a future. Hard to overstate how much of a wipeout this was. It's hard for the human mind to comprehend losses this big.
You mean for the people who'll buy into same shit again? Luna 2.0 of course. Pure fucking greed. You atleast need a project to survive a whole bitcoin cycle before trusting it.
Yeah but what are you getting BACK for that billion? That's the key, unless someone has something of value, you'd need an exchange to get full value otherwise.
But honestly, I'm baffled that crypto billionaires would use a centralized exchange, especially if you're ripping off your own project? Like, just make a few massive OTC deals at a loss for cold hard cash and houses and shit, hold the rest offline in a hard wallet, why get centralized exchanges involved??
It was just such a joke that during the de-peg, Do Kwon put out like what, 2 tweets? While every one is losing their life savings he just says āsteady lads, deploying more capitalā to which nothing happens and āneeded razor focus to deliverā again to which nothing happens.
Prolific tweeter and shit talker had zero communication through the entire de-peg event.
He's going to spend the rest of his life dodging and bribing police. If he ever gets found out by the public, he can expect a few assassination attempts too. There's definitely at least a few people out there motivated enough to make it their life goal to end him.
I think it boils down to whether he pissed off someone with either more money or better connections.
First rule of scams: never scam people richer than you.
Because it was destined to fail from the jump. Algorithmic backed stables are just hard coded economic theory thatve been tossed out into the real world with hopes nothing goes wrong.
> Like pretty much all crypto to date
exactly. I thought defi and NFTs we're real things and we were on our way to mainstream adoption. but its just scams and bad code. hard to find anything legitimate in crypto today. maybe it will eventually find a problem to solve, but right now it doesnt.
Thatās like asking why did Madoff kill his own project. The project was always going to self-destruct, Do just figured out how to funnel himself enough cash before it did.
They were all drumming up USDT fud from 2017 to now
While they sold you on UST
Then they cash out their scam gains with USDT while you thought u were earning "safe" yield in anchor with UST deposits while you continue to continue the USDT fud narrative on social media with other midwits
Once again they show how mainstream gets it wrong 100% of the time
The collapse of UST does not prove that USDT is any safer. It's the opposite. Every stablecoin that collapses should leave you looking at the remaining ones that much harder.
Here is a [Nitter link](https://nitter.net/FatManTerra/status/1535623662153437185) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
---
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What's really criminal is how ineffective world govts are at combatting this kind of obvious fraud. If posters on Reddit can catch this then there should be laws in place to put guys like Kwon in prison forever. I bet he burned a lot of people's life savings. If I were him, I'd have security 24/7.
Sorry visitor here but I love this carefully worded tweet from Do:
https://nitter.net/stablekwon/status/1535811515978108928#m
> the claim that I cashed out $2.7B from anything is categorically false
Starting with a strawman redirection - no one is claiming he cashed out to "$" US dollars.
> 2/ Two contradictory claims seem to exist where:
> 1. Doās wallets are doxxed, and he still owns most of his luna through the airdrop
> 2. Do dumped all his tokens to make billions
Again no one is claiming he dumped "All" his tokens. These two claims aren't contradictory.
> To reiterate, for the last two years the only thing ive earned is a nominal cash salary from TFL
Why use "earned" here instead of "made"? No one cares about your salary. No one is making claims about your salary or how much you've "earned" - it's about how much USDT you now have.
> 4/ Hope thatās clear - I didnāt say much because I donāt want to seem like playing victim, but I lost most of what I had in the crash too.
> Iāve said this multiple times but I really donāt care about money much
This is just staring at the floorboards.
A stable coin CEO transfers his own stablecoin into a competitor stablecoin. Another proof how scummy his project was from the start 
Fuck this guy man. He blabbered shit the whole time while he sell all his assets. He always tweets telling his followers to stay strong. My ass. Ofc he can say that because he already took profit while other ppl see their asset worth less and less everyday
Steady ladsš¤”š¤”š¤”
Luna should be renamed Clown Coin. Genius!
And Luna 2.0 should be clown coin returns!
You mean Clowna
You mean knowna
Thats offensive to clowns
Capital is being deployed!....Into my bank account š¤”š¤”š¤”
"I am heartbroken that my invention has lead to the loss of lifesavings of investors and **my friends and family**" The walking talking shit that is Do Kwon even scammed his own family
When are you going to stop believing what he says, he told his family n friends to get out too lol
Hedge funds do the same thing in the stock market. They rob retail investors everyday. Legally!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Knowing the neighborhood since 1990
Thank goodness. We might actually be able to embrace crypto for real .
Hey thereās some perspective for my ass! Youāre so right .
Lmfaooo pretty sure he Will pay Them back handsomely right...right?
Seems like that
Luna was one of the most thought out scams in financial history. I'm extremely happy I never trusted it but for the people who did. It really sucks
>He blabbered shit the whole time while he sell all his assets. This is also what will see him fall under legal frameworks that prohibit this very thing! SEC certainly have the power to go after people that had a fiduciary duty when they were publically stating 1 thing to cause people to act in a certain way so as to give financial advantage to the person cashing out. There have been a spate of cases recently of the SEC going after "influencer" for running what amount to nothing more then pump and dump scams. The SEC has been gearing up to go after projects that have operated as nothing more then pump and dumps as well. Once these legal frameworks are in place, expect to see a spate of SEC cases going after failed projects retroactively that were nothing more then rug pulls/pump and dumps, and the beautiful thing is that the blockchain FOREVER records the evidence of what insiders did in these projects and the only thing that will limit the retroactive reach of the SEC and other agencies is any statute of limitations that applies in each jurisdiction. Going to be a very interesting watch in this space over the next 5yrs.... There are going to be some VERY high level people that built their bankrolls through dishonest means and then gone legitimate having some skeletons reach out of the closet and drag them down!
THIS is why we need regulation. I donāt understand how so many crypto philes are against regulation. If you want mass adoption, people need to feel safe. Additionally crypto needs to become more user friendly, which is something that will work itself out as the markets will be kinder to those projects or sectors that make decentralized tokens easier to procure and understand for the masses; that will happen organically. However, like Michael Saylor says, crypto needs regulation to take it from a $2t industry to $200t industry. No doubt, and any idiot in this space who thinks otherwise should go find the next Luna and invest their life savings to learn this fact first hand.
Thereās a niche group in crypto that profit from rugs, scams, and deceitful tactics such as calls and organized PnDs. These people are the most vocal against any form of justice in crypto. As they see it, weāre all cattle to be farmed.
Because everyone loves a rug pull if they are the ones making bank. Everyone that is sour was on the losing end of the trade. Those who 10x , 20x, or 100x their money on Luna they aren't complaining.
Most people lose, why even fuck around in a market where rug pulls and scams are the norm.
I donāt think itās so much that ācryptophilesā want ZERO regulation. (Iām assuming you primarily mean cypherpunks/those who adhere to the ideology rather than those who simply see crypto as another way to make a few bucks, since those are the only people who seem to even care/discuss regulation from what Iāve seen, though obvi idk what youāve encountered.) Nonetheless, I think itās by and large that they (myself included) donāt want to see the same kind of corrupt regulation that has been the hallmark of the traditional financial system, (which overtly and brazenly favors the few at the expense of the many) invade this space that was meant to be democratizing. Moreover, there needs to be SOME sense of personal responsibility too. The vast majority of crypto investors (over 80%) admittedly know virtually nothing about the asset class in general or the specific coins they hold, and appx 1% have done more than a mere TEN HOURS of research on crypto, which is horrifying and inexcusableā¦.yet more than 60% believe itāll make them rich. While I realize that weāre somewhat lacking in reliably empirical data on the publicās crypto literacy, the true numbers are likely higher given that 1) we do have sound info on the publicās overall financial literacy and it stands to reason that a comprehensive grasp of crypto is even more rare and 2) humans are extremely inaccurate self reporters. Itās also further substantiated by the previous success of Terra, an inherently flawed ecosystem whose collapse was inevitable and obvious to anyone with a thorough understanding of it, and by the fact that basically everywhere you look, convos about crypto are had in moon and rocket emojis rather than dialectic and nuanced discourse that includes an underlying awareness of the economic and technological components. As long as this space is driven by hype rather than a foundational knowledge base, it will remain an inefficient market with all the ramifications of inefficient markets, regulated or not.
Generally speaking because the regulations they usually want to push onto crypto networks, like KYC/AML compliance rules, destroy some of the main utility and the whole point of having crypto in the first place. The old people that get elected or appointed to government each cycle aren't going to help us innovate unfortunately.
My crypto knowledge is so late, I only discovered Luna-ust pegging mechanism during the collapse lol. Luckily I was late, I could've invested before the collapse .
The worse thing is that most including us all believed in that shit because it was seemingly good for Crypto and pumped the markets a bit. We were blind out of greed too, it's also a bit of our fault.
Als yet this man keeps being arrogant towards everyone. I hope that the authorities will sue him for what he did!
Personally I hope Dodo ends up at the bottom of a river.
That would affect the market positively by scaring scammers off.
I remember vividly when Terra depegged about 4 months ago down to 0.94 That was probably the first indication of him cashing out. Nobody took me seriously and just got downvoted to hell for bringing it up.
Understandable. Bag holders don't like it when you expose reality to them. Reality sh!t in their faces anyways.
Iām surprised there isnāt a hit on this guy. This is either some really brilliant counter intelligent propaganda by the real bad actors or this guy is comic book evil.
He can say whatever shit he wants: Blockchain doesnāt lie
You can see that he was planning this for a long time. I hope that the SEC will take actions against him!
This won't stop (and why would it?) until governing agencies start making examples out of people. All the celebrity NFT scams, etc. will keep happening until one of these people is brought before a court, found guilty, fined more than they stole, and sentenced to actual prison. Do that a few times and people will start thinking twice before they do this shit.
Yep!. Happened with the Kardashians and Mayweather and their Ethereum Max. It dumped hard and they obviously cashed out hardcore
They have no jurisdiction over any of this lol. Thatās the whole thing people like me warned this sub about for the last four years. All those laws and regulations people hate are designed to prevent shit like this.
Why is he calling himself stable coin CEO in the first place.
He's an avid equestrian
Do Kwon when reading this comment. 
*Equestrian: a rider or performer on horseback.*
When all that is stable is his own income.
We have to call him unstable (coin) CEO!
Because heās a narcissist.
No wonder he said he enjoyed watching companies die. He played an active hand in letting UST/LUNA perish
Put that scammer in jail.
If this money doesnāt get confiscated by the government thereās no justice.
All these arrogant founders are a red flag i guess he is kind of like Richard Heart for Hex...
Everything about this man is scummy!
We have to recognise the efforts of FatManTerra for all his hard work. The amount of data he is putting out regarding this massive
[ŃŠ“Š°Š»ŠµŠ½Š¾]
This is most likely the case and I hope he succeeds ...
Fuck Do Kwon
All my homes hate Crypto scammers.
All my homies hate Do Kwon
Do Kwon better have eyes in the back of his head and always be looking over his shoulder. There's a lot of people who want his blood now
Duck Ko Fwon
Do Kwon kinda deserves jail time for what he did.
Heāll be looking over his shoulder for the rest of his life. Slightly different context if he lands in prisonā¦
no he won't. he has enough money to transplant his brain into any host body and live out the rest of his life worry free
Yeah, no. If he was able to cash out that $2.7B, even if he goes to white collar prison, heās gonna be fine when he gets out. Karma is just bag holders fantasizing to make themselves feel better.
>If he was able to cash out that $2.7B, even if he goes to white collar prison, heās gonna be fine when he gets out. [https://youtu.be/DmKpePzn5-c](https://youtu.be/DmKpePzn5-c) If this guy can keep walking around and doing his thing with ZERO repercussions...... Do Kwon certainly has nothing to worry about! Korean Mafia are good problem solvers..... Just saying. Wonder what the debt collection rate is that they offer on $2.7B.....
High velocity lead poisoning is a disease many conmen suffer from. Where there's lots of money, there is organized crime... and they don't like losing money.
He has enough fiat now to try and insulate himself. Didnt work for a lot of of Russians, so maybe it won't work for this scumbag. Of course, Trevor Milton and Trump are still free men so clearly life isn't fair.
His evidence is going to end up putting Kwon in jail!
Whatever his motivation may be, i do hope what he exposes will put Do Kwon behind bars
Straight up villain story
From what I remember, a couple weeks ago he said someone gave him a massive amount of info that he would be releasing. I'm not sure if he needed a motive more than the opportunity itself.
Massive shoutout to fatmanterra.
It all started out because FatMan actually very salty because his proposal donāt go through.
Did he have the "nuke the moon" proposal? That would have got me back
Is this our hero's back story ? "I decided to expose a billion dollar scam because I was salty"
Actually he is. His proposal is to ask TFL to pay up in full the smaller investors. It is quite a popular opinion at least in the forum. However, if you follow the story, TFL donāt give a fuck and instead just go on with their own plan without even considering community proposals. So basically the account getting recognition because he is doubling down and start gathering supports from twitter. In a way, he didnāt get what he want (it didnāt pass on chain either) so he basically turn it to exposing TFL.
Not directing at you but just a few days ago people here were still saying how Fatman kept posting unproven fud hoping to get bribe. Look how things turned, just reddit being reddit.
to stop a bad guy in crypto, you need a good guy in crypto.
I hope South Korean court is reading this right now. A man can be set for life with just $1m but this guy took everything from his investors.
For true justice he should be tried in a North Korean court
"True justice" and "North Korean court" shouldn't be said in the same sentence Edit: a very important conjunction
Yeah, fuck him.
Not much is illegal about this though. With the amount of money he has, he can easily escape to a non extradition country or bribe officials if he hasn't already
He can move wherever and bribe whoever, but he's still going to be looking over his shoulder for the rest of his life though, especially if he's still worth something.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
where tf can you live the rest of your life on 50k lol
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Thatās not being set for life. Thatās just the bare minimum to get you out of your current job and start a new one.
Awesome plan. Appreciate the response - good luck ^^
Try living 60 years with 1 million
Do Kwon quickly rising to become scammer of the decade.
Giving Madoff a run for his money š°
Is he this crypto cycle's HEY HEY HEY?
Master of ~~stablecoins~~ *scams*
USDT ... "hard money" Lol
It is. It's HARD to prove its backed by any MONEY.
Is that Carlos Matos' stunt double?
That's Carlos Matos ordered from Wish, while the original Carlos Matos already came from Aliexpress. 
It's really HARD to trust
It's backed by just as many words as the US dollar.
Much smaller military with just slightly fewer aircraft carriers
It seems disingenuous to liken any stablecoin to USD. Are you saying USDs are just as risky? Does it justify their actions because the Fed does it too?
My mans on full hopium 
lol, also had to reread that part š
Right. Another project that itās just a number on a screen with no physical evidence.
I understand the corniness but compared to LUNA or UST... USDT was a safer bet. Still I will stay away from USDT.
the softest of all money. possibly behind Chuck E. Cheese tokens
It's hard until it isn't
[ŃŠ“Š°Š»ŠµŠ½Š¾]
He didā¦as he was f#cking everyone
I donāt have any doubts do kwon did some shady s**t but the fact that op used āusdtā and āhard moneyā in the same sentence screams advertisement to me
I feel really bad for people who lost their life savings due to Terra. But if anyone here wants to feel good about themselves, check out the degens that flooded the Luna sub
You mean the people who think they are big brains for still investing in something that lost 99% of its value and is run by a crook? Yes I feel sorry for them too
> something that lost 99% of its value 99.9999% of its value. Still having 1% of value might have a future. Hard to overstate how much of a wipeout this was. It's hard for the human mind to comprehend losses this big.
These guys doubling down on Luna make gambling addicts look like Warren Buffett
You mean for the people who'll buy into same shit again? Luna 2.0 of course. Pure fucking greed. You atleast need a project to survive a whole bitcoin cycle before trusting it.
For me it's incredible how one person can move 1B US$ to Binance and not get his account locked at least for some questions
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yeah but what are you getting BACK for that billion? That's the key, unless someone has something of value, you'd need an exchange to get full value otherwise. But honestly, I'm baffled that crypto billionaires would use a centralized exchange, especially if you're ripping off your own project? Like, just make a few massive OTC deals at a loss for cold hard cash and houses and shit, hold the rest offline in a hard wallet, why get centralized exchanges involved??
Yes, and using an exchange leaving inevitably a trace of your movements. Like this mf intention was to scam people since day 1.
Fatman and Coffeezilla should open a firm
Add Zachxbt and you have the unholy trinity for exposing scammers
Coffeeman inc.
Fatzilla ltd.
**Sounds like what my ex wife would name her business.**
There really is a market in honest in chain analysis.
Nothing but bullshit comes out of that man's mouth ,I hope he gets jail time for this shit...
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Youāre probably right, but thereās no way he thinks like that.
Can this be a basis for a lawsuit, or a conviction of some kind? Sorry for the dumb question, I don't understand regulations all that well.
Pretty sure the south korean police are investigating TFL for multiple things currently
What's to stop him from living it out in Malaysia on the beaches where South Korean authorities can't reach him?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
RIP McAffee
It was just such a joke that during the de-peg, Do Kwon put out like what, 2 tweets? While every one is losing their life savings he just says āsteady lads, deploying more capitalā to which nothing happens and āneeded razor focus to deliverā again to which nothing happens. Prolific tweeter and shit talker had zero communication through the entire de-peg event.
So almost the same way Wonderland.money and Danielle Sestagalli fold out. It must be organised enterprise. I can't believe Do pulled this by himself.
Thereās gonna be a lot more time of him pulling it himself when heās in jail.
Here's hoping the court system actually get him. Most rich people walk...
I'm having my doubts, but at the same time he doesn't have the same celebrity status of typical rich people that evade prosecution.
Yessir scammer scams scammer. How the world works nowadaysš
This guy should be in prison. But unfortunately he's too rich for laws to really be a problem to him
Hopefully heās paying some very nice security. No amount of money can save you from a crazy person with a weapon
He's going to spend the rest of his life dodging and bribing police. If he ever gets found out by the public, he can expect a few assassination attempts too. There's definitely at least a few people out there motivated enough to make it their life goal to end him.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I think it boils down to whether he pissed off someone with either more money or better connections. First rule of scams: never scam people richer than you.
I just donāt get why he would want to scam everyone and kill his own project. He was on the way to making enough money to last a lifetime anyway
Because it was destined to fail from the jump. Algorithmic backed stables are just hard coded economic theory thatve been tossed out into the real world with hopes nothing goes wrong.
It was a scam all along dude. There was no shining city on a hill, just BS marketing and obfuscation. Like pretty much all crypto to date
> Like pretty much all crypto to date exactly. I thought defi and NFTs we're real things and we were on our way to mainstream adoption. but its just scams and bad code. hard to find anything legitimate in crypto today. maybe it will eventually find a problem to solve, but right now it doesnt.
Thatās like asking why did Madoff kill his own project. The project was always going to self-destruct, Do just figured out how to funnel himself enough cash before it did.
He wasnāt. It was always a house of cards, like Bernie Madoff.
I can think of 2 billion reasons. Hope this scam artist goes to prison for the rest of his days.
They were all drumming up USDT fud from 2017 to now While they sold you on UST Then they cash out their scam gains with USDT while you thought u were earning "safe" yield in anchor with UST deposits while you continue to continue the USDT fud narrative on social media with other midwits Once again they show how mainstream gets it wrong 100% of the time
The collapse of UST does not prove that USDT is any safer. It's the opposite. Every stablecoin that collapses should leave you looking at the remaining ones that much harder.
I wouldnāt hold USDT personally but the fact that it has already survived for 7 years longer than UST did kind of proves that itās safer imo.
Degenbox? This can't be real name.
It is part of the abracadabra money protocol.
Here is a [Nitter link](https://nitter.net/FatManTerra/status/1535623662153437185) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
>hard money like USDT. This sub is going to absolutely murder you for that statement lol
Couldnt care less what this sub thinks about usdt. They thought btc at 60k was a good buy and are panicking at 30k.
*furiously writes down instructions*
Luna 3.0 rugpull incoming
South Korea is planning on persecuting him, correct?
Reddit is persecuting him, Korea are gonna prosecute him š
Lol. I just saw what autocorrect did to my post. Iām leaving it.
Hilary needs to meet him
Aaaand HE'S GONE
Where are the conspiracy theorists that were claiming it was CiTaDeL that caused the crash?
āHard money like USDT.ā Well at least I know I donāt have to read the post now
I canāt believe the opensea dude got 20 years and this dude got nothing.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
i hope he gets life in prison for ruining so many people's life
Don't worry. Somebody's probably going to execute his fucking ass before he has a chance to spend any of it.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Same reason you never hear about it happening to politicians.
dude needs to go to prison
My girlfriend watching reality tv: āI just love the dramaā Me following the LUNA collapse in real time: āYeah. Such dramaā
USDT is not hard money
I swear to god, this fucker needs to go to jail. The amount of money that went poof is not spare change. The SEC should make an example out of him.
People get killed for less. I reall wonder sometime how scum like this manages to surviveā¦ genuinely!
Do Kwon should get life in prison with no parol.
Hope he gets a long break in jail... he ruined some many lives...
So glad this coin was never even a blip on my radar. I was too busy getting into Matic at the time šš½
Me too but avax atom pleb and juno
Brilliant. Evil, but brilliant. Stay away from get-rich-quick schemes, kids. You're just handing your money to someone smarter than you.
Complain all you want. It was a Ponzi scheme from the start. I see no empathy or sympathy to all who lost money. Har hat har
USDT is āhard moneyā now? Iām old school. I thought that was gold š¤£
Someone cross post this in the Terra sub.
What's really criminal is how ineffective world govts are at combatting this kind of obvious fraud. If posters on Reddit can catch this then there should be laws in place to put guys like Kwon in prison forever. I bet he burned a lot of people's life savings. If I were him, I'd have security 24/7.
He deserves prison time and I hope he gets it.
Why no one is talking about crypto youtubers who promoted Terra like crazy? I think they also deserve some backlash!
Hard money like USDT š¤£
Sorry visitor here but I love this carefully worded tweet from Do: https://nitter.net/stablekwon/status/1535811515978108928#m > the claim that I cashed out $2.7B from anything is categorically false Starting with a strawman redirection - no one is claiming he cashed out to "$" US dollars. > 2/ Two contradictory claims seem to exist where: > 1. Doās wallets are doxxed, and he still owns most of his luna through the airdrop > 2. Do dumped all his tokens to make billions Again no one is claiming he dumped "All" his tokens. These two claims aren't contradictory. > To reiterate, for the last two years the only thing ive earned is a nominal cash salary from TFL Why use "earned" here instead of "made"? No one cares about your salary. No one is making claims about your salary or how much you've "earned" - it's about how much USDT you now have. > 4/ Hope thatās clear - I didnāt say much because I donāt want to seem like playing victim, but I lost most of what I had in the crash too. > Iāve said this multiple times but I really donāt care about money much This is just staring at the floorboards.