Terra’s founder does not want to give up on the quest of compensating investors.
Do Kwon, the founder of TerraForm Labs (TFL), has vowed to continue building the Terra project to ensure victims of the Terra collapse are fully compensated for their losses.
Kwon made this known by sharing a hammer with a spanner emoji on its Twitter page.
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— Do Kwon ? (@stablekwon) September 9, 2022
LUNA Soars Over 300% While LUNC Dumps
It is noteworthy that he made the tweet at a time when the price of LUNA skyrocketed over 300% to 24 hours high of nearly $7.
LUNA moved to the 59th position of the largest market capitalization from its previous 205th position. At the time of writing, LUNA is changing hands at $5.91, up 200% in the last 24 hours.
However, the sudden pump of LUNA also resulted in the massive plunge in Luna Classic (LUNC) price. The price of LUNC is down 15% in the hours leading up to press time, trading at $0.00042.
Kwon Denies Fraudulent Reports
Meanwhile, Kwon has continued denying all fraudulent allegations against his company and the Terra project.
In a recent tweet, Kwon dismissed the allegation made by FatMan, the famous Terra whistleblower, who alleged that Terraform Labs (TFL) sent 435,000 LUNA tokens received from the LUNA 2.0 airdrop to Binance for selling.
“Was eating lunch & saw LUNA 2 pump. Checked the TFL Dawn wallet. Sure enough, after months of farming rewards with the airdrop they claim they never received, they sent all 435K available LUNA 2 to Binance just days ago. That’s just one address,” FatMan said.
Responding to the allegations, Kwon said the address does not belong to Terra.
“Can definitely confirm it’s not a TFL wallet; how does one continue to simply make up sh.t.”
Can definitely confirm its not a TFL wallet ?
How does one continue to simply make up shit
— Do Kwon ? (@stablekwon) September 10, 2022
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.
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