Did Do Kwon Manipulate Terra\'s Proposal Voting with a 20 Million Luna Wallet?
Allegations of manipulation continue to plague the Terra Luna ecosystem, with a growing focus on whether Do Kwon, the founder of Terra Luna and Terraform Labs (TFL), improperly influenced proposal voting. Was a secret 20 million Luna wallet used to sway the outcome in his favor?
The core of the controversy revolves around claims that Kwon violated TFL’s own governance rules. According to a recent revelation made by pseudonymous Terra whistleblower FatMan, Kwon broke TFL’s rules by using one of his secret wallets to vote on the firm’s proposals. The implication is that this "shadow wallet" allowed him to approve his own proposals through governance manipulation (TFL is not supposed to vote).
The potential consequences of such manipulation are significant. Did this alleged misuse of funds and influence further contribute to the Terra-Luna crash? In fact, TFL owns 42M $LUNA, worth over $200m. Kwon used his shadow wallet to approve his own proposal through governance manipulation (TFL is not supposed to vote), told everyone it. This adds weight to the accusations of centralized control masked by a decentralized facade. Kwon claimed that Mirror operated in a decentralized manner and that he and Terraform played no role in Mirror’s governance. But as Kwon knew, he and Terraform were deeply involved.
Adding to the scrutiny, Do Terraform Lab’s Do Kwon is facing a US$56.9 million lawsuit in Singapore over his role in the Terra-Luna crash that occurred in May this year. The lawsuit, led by [Law Firm Name], alleges mismanagement and misleading investors.
Adding to the complexity, a rumor on Twitter was circulating claiming that Do Kwon, the founder of Terra Luna, has contacted the top five exchanges in Korea asking for a LUNA 2.0 listing. This highlights Kwon\'s continued involvement within the crypto landscape, despite the legal challenges and accusations against him. This situation raises further questions on the fairness and transparency that Terra 2.0 presents.
The investigation into whether Do Kwon manipulated Terra\'s proposal voting using a 20 million Luna wallet is ongoing. This is a developing story, and the full extent of any potential wrongdoing remains to be seen. The crypto community and legal experts are closely monitoring the situation.