Do Kwon, do you know him?

Well, yes, he is the founder of the Terra ecosystem, whose two iconic tokens, the UST and LUNA, collapsed in May 2022, and which accentuated the Bear Market of Bitcoin and cryptocurrencies.

Well, today, Do Kwon is wanted by Interpol to answer for his actions. And oddly enough, Do Kwon is nowhere to be found. Interpol has declared him a fugitive, but Do Kwon assures anyone who will listen that he is not on the run.

He is so good at giving investors confidence that you almost want to believe him. I assure you!

But there are still some disturbing facts about Do Kwon. He would have created on September 15, 2022, one day after the South Korean authorities issued an arrest warrant against him, a new wallet to transfer more than 3,000 BTC, for a total of 67 million dollars. His country's judiciary quickly froze these assets.

Do Kwon is the designated culprit of the spring 2022 crypto crash

While almost every cryptocurrency suffered badly in the May 2022 crash, few collapsed as much as LUNA and UST, two cryptos created by Do Kwon's company. The 10-fold split in the value of UST, supposedly a stablecoin backed by the U.S. dollar 1:1, was particularly shocking. The South Korean entrepreneur is now being accused of fraud and insider trading by investors who have lost fortunes in his currencies.

An accusation took very seriously by the authorities in Seoul, who are now actively looking for him.

But Do Kwon is not only accused of fraud and insider trading: by selling a large part of the coins of his project in one go, he caused its price to plummet. For many, this was the trigger for the crash that has since affected almost all cryptocurrencies.

Do Kwon would not be the innocent victim of the system as he tries to make belief for months. Since the launch of Terra 2.0, I already warned you that this new attempt was doomed to failure. But some people still believe it.

Do Kwon's line of defense is untenable

While the one who was considered a visionary until recently claims his innocence, assures that he is not on the run and “makes no effort to hide,” many elements come however to undermine his version. Starting with the authorities of his country, who have repeatedly contradicted his statements that he was not wanted and had not been contacted.

From the beginning, his decision to close down his company's offices in South Korea only one week before the beginning of the crash has largely undermined his credibility. But the announcement by the Seoul authorities that he had also put thousands of BTC in a separate wallet is a further blow to his defense. For the fallen entrepreneur had previously explained that he had sold all his Bitcoin units to support the price of Terra, and to try to protect the users of his project.

Some people may start to open their eyes, just as we learn that Alex Mashinsky, founder of the Celsius platform and also in turmoil, has just resigned. As in every Bear Market, the excesses of some and the too beautiful promises come to make victims.

My advice is always the same: if an investment opportunity is too good to be true, it is a SCAM. Run away!

This advice applies beyond the cryptocurrency world, and the Do Kwon scandal should act as electroshock to anyone hoping to make a quick fortune without doing anything in the cryptocurrency world.

Let the mistakes of others at least serve as lessons for you.

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