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.
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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.
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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.
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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.
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That's a different matter entirely - these are just the proven, objective lies.
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