The notorious hacker collective – Anonymous – said it will join numerous governments that are conducting investigations against Terra’s Co-Founder – Do Kwon. The native token of the cryptocurrency project – LUNA – and its algorithmic stablecoin – UST – crashed to zero last month, resulting in painful investors’ losses.
As such, Anonymous vowed to explore Do Kwon’s relation to the issue and hold him accountable for the damage he had caused.
Terra’s failure was undoubtedly one of the top topics in the cryptocurrency space last month. It all started when UST lost its peg and plunged way below the target of $1. Due to the asset’s algorithmic nature and connection with LUNA, certain traders managed to exploit this and profit by arbitrating it. This essentially drove both tokens’ prices to virtually zero in a matter of days.
Apart from the panic among the crypto participants, the crash was devastating to numerous investors who had previously distributed millions into LUNA/UST. Multiple reports claimed that some individuals even committed suicide due to the colossal losses.
In a recent video, the hacking organization – Anonymous – said the one to be blamed for the adverse aftermath is Do Kwon – Co-Creator and CEO of Terraform Labs. The group further vowed to expose all secrets of the South Korean, calling him a “scammer:”
“Anonymous is looking into Do Kwon’s entire history since he entered the crypto space to see what we can learn and bring to light. There is no doubt that there are many more crimes to be discovered in your trail of destruction.”
The additional frauds might refer to Do Kwon’s relation to another stablecoin called “Basis Cash.” The South Korean was one of the Co-Founders of the project, operating under the pseudonym “Rick Sanchez.” Similar to UST, “Basis Cash” plummeted to zero.
Annonymous also stated that Kwon has no power to reverse the negative situation he has brought with his actions.
“At this point, the only thing that we can do is hold you accountable and make sure that you are brought to justice as soon as possible,” the video concluded.
The intercontinental hacker group has repeatedly supported Ukraine’s cause against Russia. For example, it breached more than 300 Russian targets collecting over RUB 1 billion (around $10 million). It also declared war on Vladimir Putin, warning he will “face unprecedented cyberattacks from all corners of the world” should he not cease his “special military operation.”
At the beginning of March (when Putin’s troops were rapidly invading Ukraine), Anonymous made the headlines again. The organization offered $52,000 worth of bitcoin to those Russian soldiers who surrendered their tanks:
“Russian soldiers, everyone who wants to live with their families, children, and not die, the Anonymous global community has collected RUB 1,225,043 in bitcoin to help you.”
Featured Image Courtesy of The Wrap