[ccpw id="39382"]

HomeCrypto NewsMarketTerra Founder Do Kwon Accused Of Using a Mystery Wallet With 20 Million LUNA to Manipulate Terra’s Proposal Voting

Terra Founder Do Kwon Accused Of Using a Mystery Wallet With 20 Million LUNA to Manipulate Terra’s Proposal Voting


Written By:

Latest News

The Terra CEO has come under yet another scrutiny for manipulating proposals’ voting using a mystery wallet. 

- Advertisement -

Do Kwon, the founder, and CEO of TerraForm Labs (TFL), has been under scrutiny since the unfortunate collapse of Terra ecosystem tokens, UST and LUNA.

- Advertisement -

Several reports have emerged, indicting Kwon of alleged corrupt practices, which contributed majorly to the collapse of the tokens.

Kwon Manipulating Terra Proposal Votes 

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 proposal on Terra Station.

FatMan took to Twitter yesterday to make the shocking revelation, saying:

- Advertisement -

“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.”


FatMan proceeded to share a screenshot of a Twitter thread he had last month with Terra CEO, where he tried to enquire about the real identity of the owner of the wallet. However, Kwon refused to respond to the questions asked by FatMan at the time, as he said: “I decline to respond.”

FatMan further indicated that in August 2021 the same secret wallet was used by Kwon to submit a proposal with the title, “Columbus-5 Mainnet Upgrade Proposal and Recommendations.”

FatMan Shares More Proof

In a bid to further prove that the wallet was used by Kwon to vote on selected proposals, FatMan shared one of the proposals dubbed Col-5 Agora, in which the wallet was used to vote multiple times to ensure the proposal passed.

FatMan noted that the wallet is Kwon’s alternative wallet that has been used to vote on proposals.

Fattman further said that Kwon is only sucking the blood of the community and using terra followers as an instrument.

“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 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,” FatMan added.

Kwon Accused of Vote Rigging 

The development adds to the list of problems Kwon is currently facing. Recall that members of the Terra community called out Kwon for manipulating the voting exercise on the proposal to create a new chain and new LUNA tokens.

The Terra community stated that Kwon rigged the voting exercise because the proposal had already gotten a significant amount of votes before the link to the voting page was shared with the public.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

More from Author