On-Chain Data Suggests Do Kwon Still Cashing Out Terra Holdings
Source: Unsplash On-chain data from the Terra blockchain suggests that Terra founder Do Kwon, who is wanted by South Korean police, is still cashing out from his “shadow wallets.” The claim that Do Kwon is still cashing out was shared on Twitter by the pseudonymous user FatMan, a popular Twitter user who in the past has taken a leading role in exposing questionable practices around Terra. According to FatMan, “seven figures&rdquo ; in the LUNA token has already been sent from wallets controlled by Do Kwon and to the crypto exchange Binance, with “round two” of selling already underway. “The relentless shilling on Twitter is happening for a reason. He's already deep into round two,” FatMan wrote, hinting that Do Kwon is simply using new investors in his token as a form of exit liquidity for himself. The claim by FatMan was further backed up with details from Jaewoo Cho, a blockchain expert and assistant professor at South Kor...