Cointime

Cointime

Download App
iOS & Android
Home / JUST IN

Terra Accidental Airdrop Leads To Smear Campaign, Community Member Claims

Terraform Labs (TFL), the firm behind the defunct algorithmic stablecoin TerraUST (USTC), and its co-founder Do Kwon is back in the limelight again for allegedly running a smear campaign and issuing threats against one of their own community members.

It all started in the month of May with the genesis airdrop that was planned after the original ecosystem imploded in the wake of its stablecoin depeg. TFL, in a Twitter thread, claimed that Jimmy Le, a community member entrusted with Terra community funds, has refused to return funds gained during the genesis airdrop.

The thread noted that the newly minted token, now called LUNA, was airdropped to individuals holding the original native token (now called) LUNAC. However, an error with regard to CW3 multi-sig wallets resulted in individual signers of these multi-sigs receiving LUNA airdrops, which they should not have.

(By PRASHANT JHA)

TerraClassicUSD TerraClassicUSD $0.02
+0.71%
Do Kwon
Comments

All Comments

Recommended for you

  • Arresters of South Korean President Yoon Seok-yeol clash with guards

    after attempting to arrest President Yoon Suk-yeol, Korean senior government officials from the Crime Investigation Department (CID) had a confrontation and physical conflict with security personnel inside the presidential residence today (January 3). The arresting officers have already passed through the main gate of the residence, but have not yet entered the building where Yoon Suk-yeol is located. 

  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts

  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

  • Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

    According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.

  • Trump team files complaint over Harris inheriting $96 million in Biden campaign funds

    According to reports from foreign media, the Trump campaign team has filed a complaint with the Federal Election Commission, claiming that Biden's transfer of $96 million in campaign funds to Harris is illegal. David Warrington, a lawyer for the Trump campaign team, said that this was a "shameless money-grabbing act" and would constitute the largest excessive donation and most serious violation in the history of the Federal Election Law. Shortly after Biden withdrew from the election and appointed Harris as his preferred successor, she took over Biden's campaign committee's bank account. Steve Roberts, a lawyer who represented Republican candidates, said that the argument against the transfer was a "wishful thinking" of his Republican colleagues. The Harris campaign team said that this complaint would not affect its fundraising or spending.

  • Donald Trump Plans to Release Fourth NFT Collection, Embraces Crypto Industry

    Former US President Donald Trump is reportedly planning to release a fourth NFT collection, as he continues to embrace the crypto industry. In a recent interview with Bloomberg Businessweek, Trump stated that his previous NFT collections were "very successful" and sold out in a day. He also revealed that he plans to release another collection, as his supporters are demanding it. Trump's campaign has also started accepting crypto donations, and he has been vocal about the importance of the US not falling behind China in the crypto industry.

  • Cryptocurrency firm Terraform Labs and its founder Do Kwon committed fraud

    The US Securities and Exchange Commission (SEC) ruled that the actions of cryptocurrency company Terraform Labs and its founder Do Kwon constitute fraud. The company's bankruptcy in 2022 resulted in a loss of $40 billion in investor funds.

  • Do Kwon will go on trial in Manhattan on Monday

    Terraform Labs and its founder Do Kwon will face trial in Manhattan on Monday, accused by regulators of lying to investors about the collapse of the company's two cryptocurrencies, LUNA and UST, which disrupted the market in 2022. Regulators also accuse them of falsely claiming that Terraform's blockchain was used for a popular mobile payment app in Korea. Do Kwon will not attend the trial. He was arrested in Montenegro last March and is awaiting extradition back to his home country of South Korea, where he faces criminal charges. A court in Montenegro postponed his extradition on Friday, citing concerns from the country's prosecutor's office about the extradition process.

  • Do Kwon will be released from Montenegro prison but will not be allowed to leave the country

    Do Kwon, co-founder of Terraform, will be released from prison in Montenegro, but due to several criminal charges brought by national authorities, he will remain in the Balkans. The High Court of Montenegro ordered the confiscation of Kwon's passport on Friday to prevent him from leaving the country. According to the court's order, Kwon will leave Spuž prison on Saturday. The prosecutor opposes extraditing Kwon to South Korea and would prefer him to be sent to the United States, where he could face a longer sentence if convicted.

  • Terra co-founder Do Kwon released, awaiting Supreme Court extradition decision

    Market news: Terra co-founder Do Kwon has been released and is awaiting the extradition decision of the Supreme Court.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company