Shadow Wallets on Terra (LUNA): They Have Coins!

Terra founder Do Kwon’s troubles do not seem to be over. Because he and TerraForm Labs are allegedly linked to multiple shadow wallets with 42 million LUNA.

FatMan: The Terra (LUNA) founder is lying!

Do Kwon’s troubles with the Terra community don’t seem to end anytime soon. Every day, a new claim is made against the Terra founder. A guy on Twitter named FatMan has dedicated his time and resources to uncovering as many skeletons as possible about Do Kwon and Terraform Labs (TLF).

In his latest statement in a Twitter thread, FatMan accuses Kwon and TFL of deceiving the community and lying about LUNA assets. FatMan says:

FatMan shared a screenshot of the tweet sent by Terra earlier. Twette Terra assures that TFL and LFG-related wallets will be removed from the LUNA airdrop whitelist when Terra 2.0 launches. Apparently, this decision was made to “make Terra a fully community-owned Blockchain.”

Keeping LUNA in shadow wallets?

But now the information shared by FatMan shows that TFL is lying. It looks like the company and Do Kwon have other secret wallets and shadow wallets holding 42 million LUNA. FatMan continued to share links to the wallets in question. There are three wallets associated with TFL and two wallets associated with Do Kwon. Fatman claims the following are the secret Terra wallets holding 42.81M LUNA.

Did Terra founder Do Kwon approve of his own proposal?

FatMan did not stop there. He also said that Do Kwon manipulated the management vote to pass his proposals. He accused of using shadow wallets for this. Basically, Kwon offered. He then used his shadow wallets to vote and pass. FatMan noted that the TFL should not vote on community governance movements.

Do Kwon owns TFL. One such example would be the last vote to pass the proposal to build Terra 2.0. In the preliminary vote, almost the entire community was against creating a new Blockchain. Instead he chose to burn the old LUNA (now Luna Classic).


But after a change, the proposal passed through the VIP voters. Since then, there have been complaints within the community that Do Kwon has left LUNC. Interestingly, LUNA 2.0 has been supported by various crypto exchanges, as reported by

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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.