LUNA Officials Have These 2 Altcoins!

LUNA: The scandals do not end in Terra (LUNA), which has experienced a dramatic collapse and caused a serious crisis of confidence in the market. CoinDesk Korea reports claim that Do Kwon’s Terra (LUNA) manipulates prices or launders money. He says he has $3.6 billion in UST and USDT for that.

Terra officials have a hand in the LUNA collapse? Terra (LUNA) crashed dramatically on May 7. After this incident, Uppsala Security and CoinDesk Korea investigated the incident using on-chain forensic data. The first article, on June 14, Terra took as the starting point for his collapse. Accordingly, the implied wallet (0x8d47f08ebc5554504742f547eb721a43d4947d0a) followed the currency movement around it.

According to the research, a total of $7.4 billion USDT, USDC and UST have been transferred to two Binance wallets. These wallets belong to Terraform Labs and Luna Foundation Guard (LFG). On-chain data revealed it was his wallet (LFG). Coindesk Korea is investigating whether the Terra incident is connected to an insider. Uppsala Security and CoinDesk Korea tracked the $3.6 billion transfer of undisclosed assets.


According to research conducted by CoinDesk Korea, Terra Labs has approximately $3.6 billion in USDT and UST. Also, reports claim that this money will be used to manipulate prices. In addition, he points out that it will be used to launder money through cryptocurrency exchanges and decentralized financial institutions (DeFi). But to verify this, authorities will need to verify with Binance, Coinbase, Huobi and Kucoin.

CoinDesk reports that Do Kwon received 4.6 trillion won with Terra’s money

The CoinDesk Korea report added that CEO Do Kwon disclosed the use of data such as LUNA, UST, and BTC through SNS or the Terra Foundation. For example, if TerraUSD depegging occurred, the foundation would hedge the price with the cash it controls.

However, analysis of on-chain data revealed that the origin and usage history of wallets directly owned or controlled by Terraform Labs and Luna Foundation Guard (LFG) are unknown. The illicit coins discovered totaled $3.6 billion (approximately 4.6 trillion won) in UST and USDT. Specifically, the researchers discovered that the funds may have been used for price manipulation and money laundering of the previous LUNA on DeFi and controlled exchanges.

Meanwhile, even before the Terra disaster, there were other charges of illegal activity against Kwon and his firm. However, Do Kwon vehemently denied the alleged $2 billion cash outflow. Despite this, this claim was widely publicized.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing site 3 months ago.