Notorious hacker collective – Anonymous – said it would join several governments investigating Terra’s co-founder – Do Kwon. The cryptocurrency project’s native token – LUNA – and its algorithmic stablecoin – UST – crashed to zero last month, resulting in painful investor losses.
As such, Anonymous vowed to find out Do Kwon’s connection to the issue and hold him accountable for the damages caused to him.
Whether to be ‘brought to justice’
The failure of Terra was undoubtedly one of the top topics in the crypto space last month. It all started when UST lost its peg and fell below the $1 target. Due to the algorithmic nature of the asset and its association with LUNA, some traders have managed to take advantage of it and profit by arbitrating it. This essentially brought the prices of both tokens down to almost zero in a matter of days.
Apart from the panic among crypto participants, the crash was disastrous for many investors who had previously distributed millions in LUNA/UST. Several reports have claimed that some individuals have even committed suicide due to heavy losses.
In a recent video, hacking organization – Anonymous – said that to blame for the adverse outcome is Do Kwon – co-creator and CEO of Terraform Labs. The group further vowed to reveal all the secrets of the South Korean, calling him a “scammer:”.
“Looking at the entire history of Anonymous Do Kwon as he entered the crypto space to see what we can learn and bring to light. There is no doubt that there are many more on your path to destruction. Offenses from.
The additional fraud may refer to Do Kwon’s connection to another stablecoin called “Base Cash”. The South Korean was one of the co-founders of the project, operating under the pseudonym “Rick Sanchez”. Similar to UST, “Basic Cash” dropped to zero.
Anonymous also said that Kwon has no power to reverse the negative situation brought with him by his actions.
“At this point, the only thing we can do is hold you accountable and make sure you are brought to justice as soon as possible,” the video concluded.
Unknown participated in the Russo-Ukraine War
The Intercontinental Hacker Group has repeatedly supported Ukraine’s cause against Russia. For example, it has breached more than 300 Russian targets collecting more than 1 billion rubles (about $10 million). This also declared War on Vladimir Putin, warned he would face “unprecedented cyberattacks from all corners of the world” should he not call off his “special military operation”.
In early March (when Putin’s forces were increasingly invading Ukraine), Anonymous again made headlines. The organization offered $52,000 worth of bitcoin to Russian soldiers who surrendered their tanks:
“Russian soldiers, everyone who wants to be with their family, children and not die, Anonymous Global Community has collected 1,225,043 rubles in bitcoins to help you.”
Featured image courtesy of Rap
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