LUNA 2.0 Drops, Do Kwon Private Twitter Account, Fatman Tuding Terraform Labs Has A “Shadow Wallet”

The new Terra LUNA fell. (Cryptonewsbtc)

JAKARTA – The efforts of the founder of Terra, Do Kwon, in restoring the Terra ecosystem after the collapse of the algorithmic stablecoins USDTerra (UST) and Terra (LUNA) some time ago have drawn criticism from a number of parties.

Binance boss Changpeng Zhao himself stated that LUNA was “a design flaw.” In addition, the person who is often called CZ admits that he is skeptical about Terra's recovery.

Since the launch of LUNA 2.0, the price of the token has fallen sharply by 53.3 percent in the past week. Coiningecko reported that the price of LUNA 2.0 was traded at the level of Rp. 45,756 at 14:55 WIB, Thursday, June 9, 2022.

The drop in the price of the new LUNA token is inseparable from the negative sentiment that lurks in it. The reason is, the event that the price of UST and LUNA fell by more than 99 percent caused a decrease in investor confidence in the tokens launched by Terraform Labs.

Meanwhile, a whistleblower using the Twitter account name Fatman said that Terra Do Kwon's boss had a shadow wallet. On June 7, Do Kwon locked his Twitter account so that it cannot be accessed by the public.

Meanwhile Fatman continues to accuse Terraform Labs and Do Kwon of manipulation. The day before Do Kwon went private on his Twitter account, Fatman stated that TFL kept the new LUNA tokens in its secret digital wallet.

“Do Kwon has stated many times that TFL (TerraformLabs) does not have the new LUNA token, making Terra 2 'public property'. This is an outright lie that no one seems to talk about. In fact, TFL has 42 million LUNA, worth over $200 million, and they are lying," Fatman wrote in a Twitter post.

Fatman further revealed that Terraform Labs has 5 shadow wallets. The five digital wallets store 42.81 million LUNA 2.0 tokens. It didn't stop there, Fatman assessed that apart from the five wallets, there were many other wallets that contained the new LUNA token.

“[Do Kwon] used his shadow wallet to approve *his own proposal* through governance manipulation (TFL shouldn't vote), told everyone it would be a community owned chain, and then gave himself a nine-figure score. This is just a verified wallet – there are many more,” Fatman said in his post.