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Caught: “Mystery” Wallet with 20 Million LUNA Airdrop That Was Voting on Do’s Own Proposal Belongs to Do Kwon

Despite the fact that Do Kwon, the founder and CEO of Terraform Labs, came out on the 11th of June to disclaim the rumors making the rounds in the media about his corrupt dealings, more proofs continue to emerge to assert that he has indeed been corrupt.

There were lots of unconfirmed reports on the 11th of June that claimed that Do Kwon participated in draining liquidity out of the collapsed Terra (LUNA) and TerraUSD (UST) before the historic crash to purchase US dollar-pegged stablecoin such as Tether (USDT).

Read Also: Exposed: Do Kwon and Terraform Labs Hold 42 Million LUNA in Secret Wallets despite Claims of Holding None

The reports also alleged that Do Kwon was cashing out $80 million on a monthly basis to accrue $2.7 billion altogether. But he has refuted all these allegations.

“Mystery” Wallet That Was Voting On His Proposal Belongs To Do Kwon

A tweet shared by FatMan, a member of the Terra research forum and the Whistleblower of the Terra community, has confirmed that the “mystery” wallet that was used to submit one of his proposals belongs to Do Kwon.

According to FatMan, the secret wallet holds a total of 20 million LUNA sent to it by TFL about two years ago and voted in his proposal, delegating to North Star, and lots more.

Read Also: Do Kwon Resurfaces to Correct Misinformation and Falsehood Making the Rounds about Terra

FatMan tweeted, “Caught. The ‘mystery’ wallet with a 20M LUNA airdrop that was voting on Do’s own proposal, delegating to North Star, insider trading ASTRO, etc. – it is officially confirmed that it belongs to Do Kwon himself.”

In the same thread of tweets, FatMan revealed that the same “mystery” wallet was used by Kwon to submit a proposal in August 2021, titled, “Columbus-5 Mainnet Upgrade Proposal and Recommendations.”

“Col-5 Agora proposal submitted by Do: Corresponding on-chain proposal authored by Do Kwon (submitted from the mystery wallet): This is Do Kwon’s verified alternate wallet. Credits to @FitManTerra for the spot.”


The whistleblower added that “They told you TFL doesn’t vote. They told you TFL didn’t get the drop. But you’ll notice that every tiny thing they do is to extract more money out of the ‘community’ through wordplay and manipulation. He doesn’t care about you. You are an instrument to him and always were.”

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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

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