Tuesday, June 6, 2023

Do Kwon Allegedly Voted On His Own Proposal With His Secret Wallets

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Do Kwon allegedly voted on his own proposal via his secret wallets after a new investigation was launched into the allegations of the Terra founder so let’s read more today in our latest cryptocurrency news.

The founder of Terra, Do Kwon allegedly voted on his own proposal and he faced plenty of allegations of foul play regarding the collapse of the Terra cryptocurrency. Allegations ranged from draining $8 million monthly to withdrawing $2.7 billion from the Terra ecosystem via DegenBox. The Terraform LAbs CEO was accused of vote-rigging by a Twitter whistleblower so according to FatMan, Do Kwon broke Terraform Labs’ rules by using one of the secret wallets to vote on the company’s proposal for the TErra Station. Fatman made these claims via Twitter, saying:

“Caught. The ‘mystery’ wallet with a 20M LUNA airdrop that was voting on Do’s own proposal, delegating to North Star, insider trading ASTRO, etc. – it is officially confirmed that it belongs to Do Kwon himself.”

The tweet includes a screenshot of a Twitter thread where Fatman tried to find the true identity of the mystery wallet which voted “yes” to Do Kwon’s proposal with 5 of the voting power and funded 20 million LUNA tokens. Do Kwon responded by saying he will draw the line at doxxing wallets and urged the whistleblower to stay out of it. FatMan tried to inquire about the relationship between the wallet and Terraform Labs to which Kwon responded by saying that the wallet belonged to the Token purchase agreement holder with TVL and then declining to make comments further.

The tweet is a part of a three-tweet thread and outlined the allegations with connections to the Colombus 5 proposal and Do Kwon alleged a secret wallet. FatMan added that Do Kwon used the same secret wallet to send a proposal titled Columbus-5 mainnet upgrade proposal and recommendations. FatMan shared a proposal referred to Col-5 Agora to provide further evidence that Kwon used the wallet to vote on other proposals. In this proposal, the wallet was used to vote a few times to ensure the proposal was successful.

As Fatman pointed out, the wallet in question is Kwon’s new choice wallet for casting votes on proposals. FatMan finished off the thread and pointed out that the Terraform Labs claimed they will not vote on proposals or take advantage of inside information:

“They told you TFL doesn’t vote. They told you TFL didn’t get the drop. But you’ll notice that every tiny thing they do is to extract more money out of the ‘community’ through wordplay and manipulation. He doesn’t care about you. You are an instrument to him and always were.”

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