Do Kwon denies the allegation of withdrawing $2.7 billion from Luna

 Do Kwon said he didn't care about money issues, denied information that pocketed $80 million

On June 11, FatmanTerra, a well-known account in the Luna community, posted on Twitter that Kwon's act had been happening every month for three years. After 33 times, the amount withdrawn from Terra was $2.7 billion.

With the story going viral, Kwon said rumors of embezzlement of $80 million a month contradicted the fact that he was holding most of Luna's possession. He confirmed that his income in the past two years was mainly due to Luna's price increase, because he did not receive a salary at Terraform Labs.

Terraform Labs is currently being targeted by both the SEC and the Korean regulator. According to JTBC, the SEC worked remotely with several key TerraForm Labs employees, focusing on the weak designs of the Luna project. Meanwhile, the securities and financial crime investigation team of the Seoul Southern District Prosecutor's Office has summoned all employees of Terraform Labs to assess the collapse of two tokens managed by this company. Kwon alone may have to testify before the Korean parliament next time.

On May 9, Luna and UST plunged and almost lost their value. Some Terraform Labs employees and former employees say they "anticipated" the demise of the two cryptocurrencies when they found the savings model with 20% interest rates too high. They tried to send a danger warning to CEO Kwon, but they were all dismissed.
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