A Reddit member has claimed to have filed a police report against Terra’s Do Kwon, according to the popular social media network. By way of a tweet, WuBlockchain’s staff referred to the police complaint against Do Kwon.
Luna Cryptocurrency Scam,’ according to the Reddit user, was perpetrated on unsuspecting citizens. In addition, he filed a police report on behalf of others who lost money in the scam.
In his estimation, more than 1,000 Singaporeans had invested in LUNA and UST, which he said was promoted as a stablecoin. Below is a snapshot of the police report.
Reddit users have responded to a Reddit article about a police complaint against Do Kwon. Some of the community’s answers are shown in the examples below.
Sukeguto said my money is in crypto, but this is ridiculous. Decentralized and uncontrolled currencies are excellent when things are favourable for cult-like crypto fanboys. Is anybody there to aid them?
The money has vanished. KO’d is now out of cash and unable to provide a refund. A fundamental defect in the way the terra-luna ecology operates caused the ecosystem to algorithmically print itself into oblivion. Investors should have been aware of this problem if they had studied the audits performed on the company and recognised it. – by tatabusa
In less than a day after Terra (LUNA) creator, LUNA commented on Twitter that he was ‘heartbroken about the suffering [his innovation] had inflicted]’ on everyone, news of a prospective police investigation against Do Kwon has emerged. Kwon had previously indicated that he had not sold any of his LUNA or UST throughout the de-pegging issue and subsequent LUNA price escalation.
According to Cane Island Alternative Investors, Timothy Peterson of the firm, his admission of guilt might lead to prospective litigation.