Do Kwon finally admits he is the only responsible for Terra Luna crash

Amalia A. Amalia A.
21 Aug 2022
1 min read
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Do Kwon finally admits he is the only responsible for Terra Luna crash.

Latest news that caused a lot of emotion on the crypto twitter was that the founder of Terraform Labs - Do Kwon, had finally spoken about Terra Luna, which collapsed in May.

Terra Luna, which was nearing $100 billion in value, collapsed and wiped out trillions of dollars across the crypto ecosystem because of the protocol’s vulnerabilities.

Though he admitted that :

I, and I alone, am responsible for any weaknesses that could have been presented for a short seller to start to take profit.

Still he points at someone in the company who took advantage of information about the flaws in the protocol, but avoided mentioning anyone.

Kwon, who moved to Singapore prior to the Terra crash, said he did so out of fear for the safety of his wife and child. For now he hasn’t been charged with anything yet, but he faces allegations of fraud in South Korea, among other potential legal jeopardy.

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Amalia A.
Amalia A.
About the Author

NFT Artist, Book Author & Marketing Strategist Passionate about Blockchain, Crypto enthusiast

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