FatMan

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.