According to a news story of Cointelegraph, in response to the May collapse of the Terra (LUNA) and TerraUSD (UST) ecosystems, hacktivist organization Anonymous has vowed to ensure that Terra co-founder Do Kwon be brought to justice as soon as possible.
Hacker Group's Message for Kwon
On Sunday, a video allegedly made by the hacking organization rehashed a long list of Kwon's alleged transgressions, including withdrawing $80 million each month from LUNA and UST before the coin's collapse.
In order to reveal Kwon's alleged misdeeds, the hacking organization announced it will be investigating his actions ever since he entered the cryptosphere.
You can watch Anonymous's message below:
Who Is Anonymous Hacker Group
An international activist collective known as Anonymous, which has its roots in the 4chan in 2003, is well-known for planning cyberattacks on public and commercial organizations as well as the Church of Scientology.
Cointelegraph pointed out that it's important to note that numerous YouTube channels make claims to be related to the hacker collective Anonymous. The group is naturally decentralized and anonymous, therefore there is no consensus that there is an official YouTube channel for it.
This Is Not the First Time the Group Issued a Message About Cryptocurrency
The same YouTube channel attacked Tesla CEO Elon Musk in June 2021 for supposedly "destroying lives" by manipulating the cryptocurrency markets using his power and influence on Twitter. You can watch the video below, which gained almost 3.4 million as of the time of writing.
How Has the Cryptocurrency Crash Affected Kwon?
According to Forbes, Kwon co-founded Terra in order to leverage blockchain technology to create a more effective payment system. When it was launched in January 2018, its own name-brand stablecoin drew 40 million users to the platform.
News.com.au reported that the 30-year-old South Korean watched as his cryptocurrency empire fell apart last month in an unexpected $40 billion crash. He has since admitted in a new interview with The Wall Street Journal that the wipe-out cost him almost all of his own net worth.
Although he stated that this doesn't worry him because he lives a fairly frugal life. However, while he seems indifferent about his own financial losses, Kwon acknowledged that the overall impact has been a terrible one.
Other Issues Surrounding Terraform Labs
South Korea resurrected the "Grim Reapers of Yeouido," a renowned financial crimes investigation force, in May to look into Terra's demise. The team, which includes different regulators, will concentrate on bringing fraud and unlawful trading schemes to justice.
The South Korean authorities are also presently looking into Terraform Labs for a number of things, including the suspected embezzlement of Bitcoin (BTC) from the business's treasury.
Later that month, the Korean government summoned every employee of Terraform Labs to testify in order to look into possible internal market manipulation.
The company was also hit with a $78 million penalty for tax evasion by South Korea's national tax authority.
