Anonymous vows to bring Do Kwon’s ‘crimes’ to light

CointelegraphPublished on 2022-06-27Last updated on 2022-06-27

Abstract

Do Kwon, if you are listening, sadly, there is nothing that can be done to reverse the damage that you have done.

Hacktivist group Anonymous has pledged to “make sure” Terra co-founder Do Kwon is “brought to justice as soon as possible” in regards to the collapse of the Terra (LUNA) and TerraUSD (UST) ecosystems in May. 
On Sunday, a video purportedly coming from the Anonymous hacker group aired out a laundry list of Kwon’s alleged wrongdoings, including cashing out $80 million each month from Luna and TerraUSD prior to its collapse as well as his role in the fall of stable coin Basis Cash, for which Do Kwon allegedly co-created under the pseudonym “Rick Sanchez” in late 2020.
“Do Kwon, if you are listening, sadly, there is nothing that can be done to reverse the damage that you have done. At this point, the only thing that we can do is hold you accountable and make sure that you are brought to justice as soon as possible.”
The hacker group said it would be looking into Do Kwon’s actions since he entered the crypto space to expose his alleged crimes. 
“Anonymous is looking into Do Kwon’s entire history since he entered the crypto space to see what we can learn and bring to light,” the group stated.
“There is no doubt that there are many more crimes to be discovered in your trail of destruction.”
The hacker group also criticized Kwon for his “arrogant tactics” in trolling competitors and critics and “acting like he would never fail.”
Originating in 2003 on 4chan, Anonymous is a decentralized international activist collective known for orchestrating cyber attacks against government institutions, agencies, private corporations, and even the Church of Scientology.
In June 2021, the same YouTube channel took aim at Tesla CEO Elon Musk for “destroying lives” by using his clout and influence on Twitter to play with the crypto markets. The video has around 3.4 million views as of today.
It is worth noting that there are multiple YouTube channels that either claim to be affiliated with the hacker group Anonymous. However, there is a general consensus that there is no official YouTube channel for the group, given its inherent decentralized and anonymous nature.
Mixed reactions from the community
Commenters of the YouTube video and the community on Twitter appeared to be broadly supportive of the hacker group’s pledge to go after Kwon, with one commenter calling Anonymous the “Robinhood of today.”
However, the video message garnered more skepticism on the r/CryptoCurrency subreddit, with users criticizing the hacker group for issuing an empty threat against Kwon and providing no new information to the public, with one commenter saying:
“Anonymous is so teen bop now [...] This anon video is so non-threatening it's almost bizarre.”
While another said, “would expect them to have uncovered something but its nothing more than, well nothing.”
It appears that, for now, Kwon will likely have bigger, more tangible threats to worry about.
Terraform Labs, for which Do Kwon is the co-founder, is currently under multiple investigations from the South Korean authorities, including the alleged embezzlement of Bitcoin (BTC) from the company’s treasury.
In May, a famous financial crimes investigation unit dubbed the “Grim Reapers of Yeouido” was revived by South Korea to investigate the collapse of Terra. The team consists of various regulators and will focus on prosecuting fraud and illegal trading schemes.
Later that month, Korean authorities subpoenaed all Terraform Labs employees to investigate any internal role in market manipulation.
The company has also been fined $78 million by South Korea’s national tax agency for tax evasion charges.

Related Reads

Three Months, 35 Billion Yuan: Investors Rush to Grab the OpenAI of the Physical World

Investors flock to a physical AI startup as the race for the "OpenAI of the physical world" heats up. Ji Jia Shi Jie (GigaWorld), a company dedicated to developing Artificial General Intelligence (AGI) for the physical world, has raised 3.5 billion RMB (approximately $490 million) in just three months, according to a report from investment media outlet Touzijie. The latest B2 funding round of 1 billion RMB attracted a wide range of top-tier investors, including sovereign wealth funds, industrial capital, and financial institutions. This brings the total funding for the young company, now valued over 10 billion RMB, to 3.5 billion RMB across three recent rounds. The company is led by Huang Guan, a post-90s Tsinghua University PhD with extensive experience in AI, autonomous driving, and entrepreneurship. Its core innovation is a "dual-pyramid" system comprising a five-layer data pyramid (from internet videos to real-world robot data) and a three-layer algorithm pyramid focused on world simulation, action alignment, and reinforcement learning. This system underpins its key models: the "World Action Model" (e.g., GigaBrain series for robot control) and the "World Generation Model" (e.g., GigaWorld series for simulating and understanding the physical world). Its models have reportedly achieved top rankings in global robotics benchmarks. Ji Jia Shi Jie argues that while current digital AGI excels in information processing, the next frontier is physical AGI—systems that can understand and interact with the real world. The company believes the field is approaching its "GPT-3 moment," a key inflection point in capability scaling. To achieve this, the company is pursuing a dual-market strategy. For the consumer (C) market, it launched the "SeeLight" brand and its S1 general-purpose humanoid robot, which has secured initial orders for deployment in real homes. For the business (B) market, it focuses on industrial automation with its Maker series robots, having signed agreements for large-scale deployment in factories, and its DriveDreamer world model for autonomous driving, which is already in use with over 30 automakers and tech companies. The report concludes that by bridging the gap between digital intelligence and physical action, Ji Jia Shi Jie aims to unlock a new wave of productivity, ultimately bringing physical AGI into everyday life.

marsbit7m ago

Three Months, 35 Billion Yuan: Investors Rush to Grab the OpenAI of the Physical World

marsbit7m ago

What's the Connection Between Pinduoduo's Huang Zheng and Blockchain?

This text explores the unexpected connection between Pinduoduo founder Colin Huang and blockchain, as suggested in his article *Turning Capitalism Upside Down*. Huang argues Pinduoduo's core business is about managing "uncertainty." He posits that wealth flows to the rich because they absorb life's uncertainties (e.g., illness, job loss) that devastate the poor, who pay a premium for certainty through insurance or stable prices. Pinduoduo's model attempts a "reverse insurance": by aggregating consumer demand via group-buying and flash sales, it creates a large, predictable order for manufacturers. This certainty allows factories to remove risk premiums, passing savings back as lower prices, thus partially reversing the wealth flow. The key obstacle, Huang notes, is that an individual's buying intent is an unreliable promise. He then asks if blockchain is the natural solution for this "reverse insurance." The text elaborates that blockchain, through smart contracts with binding deposits, could transform casual intent into a costly-to-break, enforceable commitment. This replaces interpersonal trust with coded rules, making promises credible, pricable, and resistant to fraud. Finally, the author draws a parallel to Bitcoin, framing two paths to creating certainty: the "Pinduoduo path" of aggregating decentralized will into scale, and the "Bitcoin path" of locking rules into immutable code. Both sacrifice something—personal freedom or system flexibility—to manufacture trust and predictability.

链捕手1h ago

What's the Connection Between Pinduoduo's Huang Zheng and Blockchain?

链捕手1h ago

The Storage Magnate Who Conquered a Trillion-Dollar Kingdom, Yet Ultimately Could Not Become the Richest

**Summary:** "The Memory Magnate Who Built a Trillion-Dollar Empire, Yet Never Became the Richest" explores the journey of Zhu Yiming, founder of GigaDevice (603986) and co-founder of the soon-to-IPO ChangXin Memory Technologies (CXMT). The article positions GigaDevice, a fabless chip designer now valued at ~¥340 billion, as a prequel to the massive IDM (Integrated Device Manufacturer) venture, CXMT. Starting in 2005 with minimal capital, Zhu strategically "picked up the pieces" by focusing on niche markets like NOR Flash and microcontrollers (MCUs), areas major players were exiting. This allowed GigaDevice to grow into a diversified semiconductor company, maintaining robust profitability even during industry downturns by controlling costs. However, the piece argues that in the highly cyclical and capital-intensive memory chip industry, the fabless model has limits. True resilience and scale require the ability for "counter-cyclical expansion" – investing heavily during downturns – a tactic only possible for IDMs like Samsung or SK Hynix. This insight led Zhu to partner with the Hefei city government in 2016 to establish CXMT, an IDM focused on DRAM. Zhu's symbolic moves, like forfeiting salary and diluting his equity, were crucial in securing the massive state and bank funding needed. CXMT's equipment base is now valued even higher than that of BYD's vast auto manufacturing empire. Despite the potential for CXMT to reach a market cap of ¥1-2 trillion upon its IPO, Zhu's indirect stake in both companies is estimated below 3%, placing his personal wealth far below that of China's top billionaires. The article concludes that his strategic vision built a trillion-yuan memory landscape, but the capital structure necessary to achieve it precluded a personal fortune of similar scale.

marsbit1h ago

The Storage Magnate Who Conquered a Trillion-Dollar Kingdom, Yet Ultimately Could Not Become the Richest

marsbit1h ago

XRP Ledger Daily Fees Drop Below $400 As Network Activity Question Returns

The XRP Ledger is drawing attention as daily network fees have fallen below $400. While low fees align with XRPL's design for affordable transactions and are often seen as a strength, the metric can also serve as an indicator of network demand and paid transaction volume. This data point of around $3,100 in weekly fee burn highlights the stark contrast with higher-fee chains like Ethereum and Bitcoin. The development fuels an ongoing debate. Proponents view low fees as a sign of efficiency and accessibility, while critics may question if the network is generating sufficient high-value activity relative to its market cap and payments-focused narrative. The article cautions against overstating the finding, noting a single low-fee day does not signify network failure. It instead adds context to discussions about XRPL's usage, especially alongside Ripple's broader initiatives in stablecoins (RLUSD), AI payments, and enterprise infrastructure. The report recommends monitoring for a fee rebound, checking transaction counts for a fuller picture, and confirming the trend via native explorers like Bithomp. It frames the story within a larger market shift where on-chain data, protocol updates, and infrastructure developments are becoming crucial alongside price action. The editorial stance is to present the verified data, explain its significance for assessing network activity, and avoid hype, positioning it as part of the daily crypto conversation.

bitcoinist6h ago

XRP Ledger Daily Fees Drop Below $400 As Network Activity Question Returns

bitcoinist6h ago

Trading

Spot
Futures
活动图片