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I love the cryptocurrency ecosystem, and it may have a bright future, but the biggest problem we have to address is the sheer lack of accountability. The lack of integrity. Liars & grifters can swindle at an unimaginable scale. The community must act. Here are some big lies.
The Chai Lie Do Kwon went around on podcasts telling people Chai x Terra was being used by major Korean merchants, and nobody called him out on the fact that Chai had no users and no real merchants at that time. It was a scheme for TFL to launder money out. No accountability.
The Multisig Lie Do Kwon publicly told people multiple times that the LFG funds were being held on a multisig wallet controlled by 7 directors. In fact, only TFL controlled the wallet, and Do Kwon pulled out the last batch of coins without a board vote. No accountability.
The Peg Defence Lie The $3b removed from the LUNA ecosystem for ongoing 'peg defence' was instead used as a bailout treasury for when the peg had already collapsed, and was also used to purchase large tranches of LUNA OTC, which was never a disclosed mandate. No accountability.
The Project Dawn Lie TFL gave themselves a monthly allowance of 3M LUNA for 'Project Dawn' infrastructure improvements, promising monthly reports with full transparency. These reports never came, and a lot of this LUNA was moved off to centralized exchanges. No accountability.
The Terra 2 Distribution Lie Do Kwon told the validator chat room that TFL owned 0 tokens. They told you this would be a community chain. And yet, wallets controlled by TFL secretly siphoned off over 3.3% of the supply (vesting), currently worth over $230m. No accountability.
The community must band together as a force and call out these vultures when their lies arise. Let there be consequences. Let there be transparency. Let there be justice. Every lie, every scam, is a stain on our beloved space and brings us one step further from our aims.
ever since eth and ethereum classic as far as anyone is concerned it was fair game to just fork and act as if nothing happened. this is literally the btc maxi argument
The ETH fork happened to reverse the DAO hack, not to shirk off responsibility to investors/creditors and generate a new enrichment scheme for Vitalik. Distribution remained the same (minus the hacker). It's not a comparable situation. Technically, Terra 2 isn't even a fork.
The whole world knows dk's own play, we don't need to explain, you have the ability to put a price on DK's head to clean up this junk for blockchain
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