Community Frustration Grows Over Do Kwon’s Remarks Following Terra Collapse

As Terra co-founder and CEO Do Kwon breaks his silence about the collapse of the algorithmic stablecoin TerraUSD Classic (USTC) and LUNA 2, the community has responded with various sentiments against the Terra executive.

Despite Kwon’s attempts to clear his name during an interview, community members remain unhappy with the Terra CEO. In a tweet, podcaster Eric Conner compared Do Kwon’s situation to that of the Tornado Cash developer who has been arrested, stating, “Kwon scammed billions and is still ‘partying’ while Tornado Cash developers wrote some code for privacy and are now ‘fearing for their lives.'”

Crypto researcher FatManTerra also shared his thoughts on Kwon’s interview, describing it as a “nothingburger.” He tweeted that the Terra CEO lied about many aspects during the interview and attempted to describe fraud in a way that avoids legal implications, but ultimately failed to do so.

Bitcoin (BTC) evangelist Cory Klippsten encouraged those who lost money in the Terra collapse to pursue legal action against Do Kwon. In contrast, analyst Hailey Lennon expressed that Kwon’s interview does not deserve the community’s attention, remarking, “I’m not sharing a link because it doesn’t deserve clicks.”

While criticism is directed towards Do Kwon’s recent interview, some still attempt to shill LUNA 2, proclaiming Kwon as innocent. One Twitter user claimed that the Terra CEO is currently building a “better LUNA” and has not changed his daughter’s name.

In June, South Korean prosecutors imposed a travel ban on Terraform Labs employees; however, since Kwon is already in Singapore, authorities may consider invalidating his passport to initiate a comprehensive investigation against him.

South Korean authorities have acted against individuals linked to the Terra collapse. In July, prosecutors raided 15 entities, including exchanges Upbit, Bithumb, Coinone, Korbit, and Gopax, in response to numerous legal complaints regarding the stablecoin incident.