You must have read the news that Do Kwon the CEO of Terra Form, the company and lab behind the Luna/UST asset the depegged and crashed almost a year ago, was arrested. Lots of people have been longing for this for a very long time but his location was unknown. Investors who invested their money, especially the ones that invested a lot like their lifesavings wanted Do Kwon to pay by all means. According to what we saw, there was a malfunction in the blockchain which caused the assets to lose its value. i wouldn’t know if Do Kwon pulled a liquidity plug and took the whole liquidity, but even though his creation rekt a lot of people, I still feel it can not be compared to what FTX did.
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FTX CEO, Sam BankMan Fried literally lied to the whole world while spending investors funds, Do Kwon’s blockchain had a malfunction and wiped out $40 Billion and a lot of people need some answers. We dont know if it was just an accident or a deliberate act. But then, someone has to take the blame, he has been a fugitive for months with no one knowing his location but few hours ago he was arrested in Montenegro, after reading the news, I can’t help but ask, will this change anything? Will this make any difference? Will this bring the lost money back? If he gets to court what way can he poy for the damages he has caused. He released a new coin after the LUNA/UST crash, airdropped it to people who had the LUNA/UST in their wallet, but unfortunately the damage had been done.
This arrest has also sent the Terra form coins down in value, but then, we can’t help but see the importance of arresting these bad crypto actors. This is to teach other bad crypto actors a lesson, that they can’t come and steal from investors and go free. As for Do Kwon I dont know if I should tag him a bad actor or just an unfortunate man who had good intentions but got unlucky. Investors can’t get their money back the value has been lost but then, he has to pay for his mistakes.