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Do Kwon and Terraform Labs defrauded the retail public of hundreds of millions of dollars *that they currently still have*. It came out of the pockets of LUNA & UST holders and went into their wallets.
Here's why you should be mad, and here's what you can do about it.
1a. You should be very angry about their operating expenses Every month, TFL cashed out tens of millions of dollars for salaries and operating expenses. This went into hard money like USD, BTC and SGD. At their peak, TFL's 70 employees were receiving $180,000,000 monthly.
1b. They will never do this voluntarily, but TFL's expense reports *need* to go public. All of this money was taken directly out of the LUNA market cap (which was supposed to stabilize UST). 3M LUNA monthly is no small amount. Put pressure on them to explain all of this.
1c. The LUNA community and I would be very interested in seeing how it's possible to spend $300m in one month on operating expenses. The real question is, how much of this money went straight into the pocket of Terra's highest paid employee (you-know-who)? Tens of millions.
2. Humble beginnings and a long timeframe Terraform Labs started 4 years ago. LUNA was pennies for a year. As the run up happened, do you not think the (extremely intelligent) Do Kwon didn't cash out massive amounts into safety at every stage during the run up?
3. VC allocations While much of Do/TFL's net worth was in LUNA and Terra ecosystem coins (reduced to ash), parts of their VC allocations (where they sold batches of LUNA for hard money) were never put back into the machine. Estimates suggest over $350m still remains.
4. A tiny refund for optics The near-broke LFG will now spend their coffers to refund small UST holders, which is useful to an extent, but the amount per wallet will be quite low. They did not bother telling you that most of the money is still in TFL's pocket.
5. Manipulating public perception 4 days ago, someone paid tens of small news sites to public an article about Do Kwon stating that he has a $10m net worth. Who would pay money to try and get everyone to believe Do is far poorer than he actually is? Think about it.pic.twitter.com/HC0pVAK2Ji
6. Human greed and ego TFL has cashed out hundreds of millions from people's investments and savings. They will never give this back voluntarily. They have not suggested returning a penny from their personal wealth to UST victims. It looks like they will get away with all of it.
7. What can we do about this? a) Share this thread with people so they know how much TFL took from you. b) Quite soon I will release a tutorial on how to bankrupt TFL via legal proceedings and get everything back... Speaking some amazing lawyers from the community. Stay strong.
where did you get $180m from?
Confirmed by Do Kwon in Telegram https://twitter.com/FatManTerra/status/1526337964082610178 … Look up 'Project Dawn'
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