Terra's Do Kwon Denies Cashing Out $2.7B, Michaël Van De Poppe Says He Deserves Jail

Terra (CRYPTO: LUNA) founder Do Kwon has now come on Twitter to refute allegations against him about cashing out funds from the company. 

On Thursday, TerraForm Labs (TFL) employees said that $80 million of company funds were sent to “secret wallets” every month before the LUNA collapse. 

People started talking about it on Twitter, alleging that Kwon had siphoned up to $2.7 billion over the last couple of months. A Twitter thread by @FatManTerra shared the alleged details on how Kwon managed to drain funds. 

Also Read: Terra's Do Kwon 'Heartbroken' Over UST Collapse, Doge's Billy Markus Tells Him To Leave The Industry

Responding to him, Kwon said that the allegations were false, and he had not cashed out any money. 

1/ This should be obvious, but the claim that I cashed out $2.7B from anything is categorically false

— Do Kwon 🌕 (@stablekwon) June 12, 2022

He also said that his income over the past two years has only been a cash salary from TFL.

3/ To reiterate, for the last two years the only thing ive earned is a nominal cash salary from TFL, and deferred taking most of my founder’s tokens because a) didn’t need it and b) didn’t want to cause unnecessary finger pointing of “he has too much”

— Do Kwon 🌕 (@stablekwon) June 12, 2022

Further, Kwon insisted that he didn’t want to play the victim card, although adding that he experienced a major loss in the LUNA crash. 

4/ Hope that’s clear - I didn’t say much because I don’t want to seem like playing victim, but I lost most of what I had in the crash too.

I’ve said this multiple times but I really don’t care about money much.

— Do Kwon 🌕 (@stablekwon) June 12, 2022

Michaël Van De Poppe Says Kwon Deserves Jail

Talking about the LUNA collapse and the recent investigations, crypto trader and analyst Michaël Van De Poppe shared his viewpoint. In a Twitter post, he said that Terra’s founder should face prison time, as a lot of investors lost money because of his actions. 

The fact that Do Kwon has been sending $80 million towards his own wallets.

Honestly, he deserves jail.

Many investors have been losing tons of money and he just goes away with a big bunch of money.

Even Madoff got into jail.

He deserves it too.

— Michaël van de Poppe (@CryptoMichNL) June 9, 2022

Photo: Do Kwan, Terra site video screenshot