"Terra’s initial whitepaper capped the distribution of Luna coins to 800 million, with 400 million in circulation. But more than 6 trillion Luna tokens were issued over the span of a few days in May."
That one is probably one of the few in English, but if you read Korean papers, lots of lawyers have commented that Kwon et al. may be charged with 2 criminal charges: fraud and similar deposit taking. Fraud is fraud, but similar deposit taking is raising funds without a banking license.
Also, the bigger problem for him is that the new minster of justice formed a special task force and the investigation of Terra/Luna will be their first ‘project’. This is the first ambitious work of the new president and the new minister of justice so you bet they will get him good.
This is the latest news in Korean: 한동훈 부활한 합수단, '테라’로 수사력 입증?..권도형·신현성 檢 도마에 < 사회 < 기사본문 - 포쓰저널 (4th.kr)
It also mentions that they will collect cases of foreign investors to press charges against DK. Let’s wait and see.
this isnt fuking amazon.com
this is the blockchain
investments are a risk
You can be jailed for fraud on anything, if you purposefully defraud anyone your going to jail you can trade pieces of fluff. It doesn’t matter
He was pushing for purchase after the depeg and now he is going to fork and screw all those over who bought and give everything to those who essentially sold by taking all the value they’ve given and passing it to a brand new chain (not a fork)
If there was ever a conversation before in any period where anyone bought and he promoted the current chain knowing he is going to abstract value from it. It’s fraud
(2) SBF on Twitter: “6) The LUNA/UST mechanism wasn’t misrepresented–it was, in fact, very transparent. And, I think it was transparently going to falter at some point. Do Kwon obviously stood by it, morally and in terms of press, long after he should have backed off.” / Twitter
read this entire thread i picked the most important one but theres a few prior to it
I doubt you will.
I wish all of you new money $.0000001 buyers would take time to actually read the words of someone with exponential more experience and knowledge than yourselves and realize why you’re idiots.
Rip Luna 2018 - 2022
Yes let’s just listen to someone’s opinion especially someone with interest like SBF over the white paper. I guess you also know more than the lawyers…
It’s not $800 million but $1 Billion… According to the white paper page 6 they were supposed to burn LUNA until it reaches $1 Billion… NOT ABANDON AND START A NEW COIN with $1 BILLION TOKENS AFTER PRINTING TRILLIONS.
That’s great finding, thx. So did they change this in the latest whitepaper to cover it up?
I tried saving Luna before the halt. All i am hoping is a generous airdrop. It will fix my everything. Do Know is good man.