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TERRA FOUNDER DESERVES JAIL, COMPARING KWON TO BERNIE MADOFF: MICHAEL VAN

TERRA FOUNDER DESERVES JAIL, COMPARING KWON TO BERNIE MADOFF: MICHAEL VAN

Reports that Terra (new LUNA or LUNA2) founder Do Kwon allegedly withdrew $ 80 million monthly before the project crash surfaced on Friday, prompting community members to express their views on the matter.


In a tweet, crypto dealer and analyst Michaël van de Poppe said Kwon deserved to be arrested. He compared the CEO of Terraform Labs with the notorious fraudster Bernie Madoff. "Truth be told, you deserve a prison," Van de Poppe wrote.


Twitter user DaisiObanla also agreed with Van de Poppe. According to DaisiObanla, he wants to hear the news that Kwon has been sentenced to 150 years in prison without parole. In addition, footballer Nicolas Boulay also stepped down, writing that the Terra official "needs to hear the public outrage."



While many seek out time for imprisonment, some disagree. President Bodhi wrote on Twitter that they disagreed, saying "no one imprisons casino owners in prison," meaning that investing in such assets is gambling. Following this, Twitter Druid Andrew also claimed that Kwon did nothing to break the criminal law.



Authorities in South Korea have also begun investigating Terraform Labs and its employees for alleged Bitcoin (BTC) fraud. Through the co-operation of the trading platform, the authorities were able to stop the negotiations. The investigation was launched after police tracked down a former spy working for the company.


During the Terra dispute, South Korea's ruling party unveiled plans to set up a digital assets committee that will be the custodian of crypto. The organization will adjust policies and regulate the industry prior to the establishment of a state-owned crypto organization.

Source: cointelegraphy




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