Who is Fatman?

Thanks for your existence, @FatMan !!!
Is incredible that still exist cultist of Terra after what happened.

More incredible that establishment hasn’t run out of money from paying so many shills. I guess that’s what happens when you control the money supply.

Where were all these shills when Mirror came under attack 5 months ago to talk security?

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But I support the existence of a new Terra chain…

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A new Terra chain under TradFi; perhaps it should be called TradFi Luna.

Do you support identifying the original attackers? Will you publicly question in the media how the large KYCed attackers were allowed to simultaneously leverage Binance, Gemini, and Twitter to launch the initial attack, violating the Terms of Service of all three platforms, without having their accounts frozen for suspicious activity or suspended per their own policies?

Will you make those demands on Binance, Gemini, and Twitter to explain themselves and call for a real investigation of all three to help retail get their money back from the large attackers?

I do support the attackers being outed. The attack didn’t start on exchanges - it started on a Curve pool - that’s why they’re hard to track down

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From your reply in your other thread, which you inappropriately entitled “Why My Faith in Terra Increased AFTER the Attack on Luna” (archival snapshot):

That’s some “faith” you’ve got there!

In substantial essence, you have “faith” in a project that you “know is going to get nuked”. You “got burned”, and you think that others shouldn’t invest—and yet, you are now manning the ramparts to defend Terra. Well, no matter. You are “just here for fun and games” (!).

Anyone who considers your opinion is a real lunatic.

Newsflash: Shorting a currency is not illegal. If it were, then Soros would be in prison.

Pegs are a hard problem. A currency peg needs to be able to withstand this type of attack. Do Kwon called himself and still calls himself the “Master of Stablecoin”. He was supposed to solve this problem with the algorithmic wizardry of the Terra peg. He expressed full confidence that the peg would be restored, at least as late as May 11. Many people trusted him, including me.

Why are you trying to let him and TFL off the hook, and divert people into a fool’s errand of nonexistent remedies that all England couldn’t pursue against Soros? Is it your idea of “fun and games”?

(Much though I personally hate anyone who shorts Bitcoin… sigh.)


Apropos the thread topic, I will substitute a better question: Who is @wlawyer, @⁠wassielawyer on Twitter?

The moderators here have not objected to a thread that blatantly seeks to dox @FatMan. Therefore, I am sure they won’t mind my asking for tips here: Anyone with information about @wlawyer/@⁠wassielawyer, please see my website for my email and PGP key.

@wlawyer has presented himself as a faux Mr Reasonable, pretended disinterest, given a boatload of bad legal advice under the cover of some worthless disclaimers, and thus greased the skids for TFL to convert perfectly legal, fungible virtual asset tokens into what is constructively an illegal unregistered security—replete with retroactively imposed shareholder classes, all substantively based on paid-in equity.

That’s the injury. Atop it, the insult is that once he drops his nice-guy mask, @wlawyer shows the arrogant contempt for retail investors that illustrates why they get screwed by “tradfi”. Someone who is trying so hard to engineer a regulatory disaster for all cryptocurrency should take stock (so to speak), and realize that he is in no position to bandy about low-grade, broad-brush insults ad maximam nauseam.

As for him, at the very least, the relevant bar needs to see some complaints about this. That is, of course, if he even is a lawyer as he proclaims, and not just “playing lawyer on the Internet”.

More generally, the SEC also needs to hear about this—as do the securities regulators in other jurisdictions. I hate to say that. I do not like running to the SEC, et al. I discussed this briefly in my tweet thread, which Twitter suppressed. In this circumstance, I do encourage non-anonymous parties with lawyers to get the securities regulators involved ASAP.

Those of us who care about crypto need to get out in front of this: If TFL creates an unregistered security (as the hardfork will do), and exchanges start trading it, then the future regulatory fallout for all crypto could be immense. That would be unfair and unjust. But more oft than not, that’s just how the world works. A prompt crackdown by securities regulators could limit the damage: Let them take down Terra now, so that innocent projects don’t suffer later.


If the hardfork occurs, then Terra will have retroactively created four separate classes of quasi-shareholder stock based on some notion of capital contributions. That’s what this is—de facto, constructively, in substance, no matter how anyone may mince words to evade that substance. That’s how every judge will see it, on grounds of, “It looks like a duck, walks like a duck, and quacks like a duck.”

  • Class A stock: LUNA holders who purchased and staked before a given date—the magic date being based on market price, as a proxy for paid-in equity. These shares have had post-crash, pre-fork voting rights. Thus, they can make self-interested votes for the fork—to the detriment of Class C and Class D shareholders. Post-fork, they will receive disproportionately much larger amounts of new tokens.

  • Class B stock: LUNA holders who purchased before a given date, but did not stake. These shares receive the same proportions of post-fork token as Class A shares, but they have no voting rights between the crash and the fork.

  • Class C stock: LUNA holders who purchased after a given date. They are deprived of pre-fork voting rights. Post-fork, they will receive drastically lesser proportions of new tokens on the theory that, in TFL’s arbitrary opinion, they paid-in inadequate capital contributions.

  • Class D stock: UST holders. They have no pre-fork voting rights. Post-fork, their $1.00 IOUs will be arbitrarily converted to volatile, largely locked and illiquid shares in the new Terra enterprise going forward. Note that this is also Terra’s conversion of a liability, which Terra’s past marketing materials have explicitly advertised as a “liability”, into an asset: Post-fork, UST holders’ notional capital contributions will be balance sheet assets for Terra, instead of debts they must repay. Whence I come, such a sleight-of-hand is called theft.

Thanks to @wlawyer for almost explicitly spelling this out in his forum posts, on Twitter, and now on Substack. He purports himself to be a corporate restructuring lawyer, and he certainly treated this as a corporate restructuring of shareholder interests!

For a very recent example (archive with pinpoint highlight of quotation in context):

The Do Kwon Framework consists of splitting the stakeholders up into multiple classes.

I couldn’t have said it better myself, except that “stakeholders” is a flimsy euphemism for “shareholders in the peremptory conversion of fungible tokens to what is constructively an unregistered security”.

Luna is also a governance token that provides decision-making power, further supporting the parallels to equity.

@wlawyer is practically making my case for me—and for the regulators who will bite into this, as soon as they realize what TFL is doing here. In the context, @wlawyer speaks of “equity” in a way that glibly slides back and forth between multiple distinct definitions of the word. That is a well-known rhetorical trick. It may fool unsophisticated readers. It does not fool me. I doubt that it will fool a judge.

You can’t have your cryptocurrency-tokens-are-not-securities cake and eat it, too. @wlawyer should also know that shareholders have shareholder rights, which are accorded by law and custom—not by Do Kwon’s whimsy.

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possibly a shill, playing his part in diverting the attention from the current Luna, making people think there’ll be a new Luna which will give them back everything they lost through this redistribution. This is pure fantasy, and is clouding/dominating the conversation.

Current Luna is the only real Luna, and its on sale right now…

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@FatMan
While it started in the Curve Pool, it continued onto the exchanges (where you have to be KYCed to transact with such large amounts of daily volume) and even Twitter, which requires non-VOIP real phone numbers to register accounts, so really, the attackers are not a mystery to Binance, Gemini, and Twitter. I have pointed that out 100 times now, that the attackers are known if they used major CEXes and dealt with that kind of daily volume.

@Hyperion
I guess sarcasm is not your thing. Yes after I spent significant time defending against the attack on Mirror and the lack of response to my call for going after the attackers, I felt Terra was vulnerable to more attacks since not enough people took the threat seriously. I still liked the project but I felt people did not understand how TradFi would sabotage it. Had my warnings been heeded 5 months ago, this attack could have possibly been fended off. So where were you then?

As I pointed out a 1,000 times, it was not merely “shorting a currency.” the same line used by all TradFi shills. It was market manipulation and shorting was one step in many which also included dum-ping UST on exchanges, draining liquidity pools, and starting a Twitter Fud campaign. That’s a lot more than “shorting a currency.” And yes, Soros is a criminal who should be locked up in a sane world, but since he is establishment, of course he won’t end up where he belongs.

Regarding the attack, anything that is attacked with enough resources can collapse, even BTC with a 51% attack (don’t look now but Blackrock and friends are buying shares in BTC miners).

Ah yet another asinine conspiracy comment from your account. So clever and original.

Actually, it is “a little too much time reading historical documents for over a decade” and then constantly being smeared as a “conspiracy theorist” by people who spend too much time watching TV and YouTube.

Here you go, try it out. Once you get through that, I have hundreds more waiting for you. Also most documents are in the public domain, so no excuses about paying for them.

“Ah yet another asinine conspiracy comment from your account. So clever and original.”

I realise I’m just another random commentator who you distrust. And I’m not really sure why I am still in this thread, but I started here due to the thread title. It was literally the thought in my own mind as I was reading Twitter this morning.

If there was less sarcasm and self-righteousness here, less agitated argument, and more direct question and answer it would be a better place and people like me would continue to pay attention.

You had FatMan’s attention earlier.

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The response was to chocolatethunder, whose only reply on many occasions has been smearing me as a conspiracy theorist, nothing of substance. I think anyone who has been smeared so often will be a little “agitated,” especially with the same smears."

Yes Fatman tried to play it off like the attackers were anonymous because they used Curvepool. Am I really supposed to believe that someone with such “in-depth knowledge” of crypto does not understand something so basic as not being able to trade hundreds of millions of dollars on major CEXes without being KYCed? That somehow using the Curvepool provided the attacker the anonymity he needed to use such major exchanges?

A lot of sell pressure on exchanges was from people arbitraging via seigniorage and people panic selling UST - not necessarily the attackers. I would need more evidence to buy that. Twitter does not require a ‘real’ phone number; you can buy them anonymously online. Your ideas, including the theory of me being an organization instead of a person, are fun to entertain, but they are ultimately baseless.

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Many have covered how the attack was carried out in detail. Are you saying retail were panic selling at $1 to cause the initial depeg? Regarding Twitter, it has been my experience that anonymous VOIP phone numbers do not work, but if you have a website that works, please share with everyone.

To be fair you might challenge Thái Ngọc and his record for insomnia soon enough! I truly hope your motivation is sound FatMan. I’m sure you can understand why you might be challenged on that. You have my benefit of the doubt at present, but I came to this thread through an inherent questioning nature.

I’ve poked at @yd19 a little, but perhaps you could help allay suspicion by responding directly to some of the questions posed?

No evidence, no trust

Rumor has it that he is not from Earth.

Some people really need to get laid

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@yd19 Man I feel like this is burner account of Fatman’s. You are showing too much obsession .

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F.uck. I will have to inform my certified whistleblower about this. Guess I got made in China insiders, just like this stablecoin. I thought they were good, but it looks like no one can beat the hero FatMan’s top-tier whistleblowers. Now they sure are the real deal

Is deleting your comments a habit of yours by the way?

agree with you .

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