May the price climb to the Moon! – Every investor’s dream of their favorite crypto. And, an unattainable superpower in a world where the market reigns supreme. Unreachable, really? Not for everyone obviously. Recent advances in the trial of the founder of the Terra ecosystem, Do Kwon, seems to show that he had arrogated this power to himself. All the details of the scandal.
Luna, a manipulated flight?
Can you raise the price, please? It is surely not in these terms that Do Kwon translated himself to one of his employees. Nevertheless, the facts are there according to the colleagues of Cointelegraph. As part of the ongoing trial, the prosecutor’s office revealed a private Messenger conversation between the fondant from TerraForm Labs and one of its employees. According to the prosecutor’s reports, they appear at the microphone of KBSOne of Korea’s largest news channels, the message exchange would unambiguously address Luna’s price manipulation.
“I don’t need to disclose details of ongoing conversation history with CEO Do Kwon specifically orders price manipulation”
The prosecutor’s office, in the trial against Do Kwon
Well, what detail was in the content of these exchanges, they might have something fishy indeed. First of all, we have to check during the previous bull run that the crazy surge of the Luna token, renamed after LUNC to pay classic moon, was impressive to say the least. The Lunatics crypto rose between June 2021 and April 2022 from $5 to over $110. That is 2000% increase in less than a year. before his sharp fall in May 20222. It also joined Coinmarketcap’s top 10 largest caps in record time. Although this kind of volatility does not happen if it is rare in cryptos, it is still an exceptional performance for the token. Enough to sow doubt.
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Do Kwon in fuete, but the noose is reduced
Well, although he doesn’t say in fuete, no one today knows where the boss of Terra, Do Kwon, was found. Once believed to be encircled by Singapore, recent advances indicate that the eccentric patron of Terra would have passed through Dubai to finally take refuge in Europe. In addition, things are now complicated because his passport has just been invalidated by Korean justice. The prosecutor confirms in his interview.
“Do Kwon is an illegal immigrant du jour, no matter what price he is paying in which he is. He can no longer legally travel from one country to another”
This legal storm obviously does not prevent Do Kwon from continuing to publish on social networks. The CEO in fuete was still addressing his followers on November 3. One thing is certain, the Terra ecosystem has caused much ink to flow and been the source of many misadventures. In crypto as elsewhere, caution is required throughout one’s life as an investor. This tumultuous crypto universe is all in all conducive to the birth of the greatest revolutions such as biggest disasters.
Another bites the dust. A giant in the crypto ecosystem bites the dust. Avoid leverage for a while and you’ll be fine. Register without delay on the FTX reference crypto exchange platform. In addition, you benefit from a lifespan reduction on your commercial conditions (commercial link, see conditions on the official website).