Are There Any Chances Of Terra UST Victims Getting Refunded? Let’s Find Out
October 19 2022 - 02:21PM
NEWSBTC
Following recent happening in the Terra community after what is
known as the biggest crash in the crypto industry, victims expect a
reimbursement. The LUNA founder Do Kwon answered the victims’
queries in an Unchained interview. In the interview, Unchained
asked if pre-depeg UST holders would receive reimbursement or if it
was a rug pull. The Terra founder avoided his promise to compensate
pre-depeg UST holders with USDT and USDC, which he made via a tweet
in May. He stated why Luna Foundation Guard (LFG) cannot compensate
users. Related Reading: Quant Balloons Over 35% In Last 7 Days
Courtesy Of Strong Social Metrics No Refund Until All Litigations
Actions Are Resolved, Says Terra Founder Do Kwon, stating his
reasons, said the LFG is not in a state where it can liquidate its
assets. He cited the pending legal actions against LFG, saying they
will not distribute tokens until all gets resolved. However, the
LUNA founder does not know how long the legal processes would take
and when all would end. He said the idea of compensation is like a
charitable effort to distribute 313 Bitcoin in USDT and USDC to the
holders. However, he insisted on no refunds. Furthermore, Do Kwon
denied having personal funds for a refund while regretting the loss
of investors in the Terra-LUNA crash. Following several actions
against the LUNA Founder, his South Korean passport has been
revoked and will be invalid this week. However, he is not planning
to return to South Korea or cooperate with the prosecutors soon. Do
Kwon claim that no arrest warrant was issued against nor has he
seen his name on Interpol’s Red Notice? Last month, South Korean
prosecutors declared the Terra founder wanted, issuing a warrant
for his arrest. The prosecutors also claimed they obtained approval
to add his name to Interpol’s Red Notice. Do Kwon’s Whereabouts
Still Unknown while He Denies Working on LUNC Meanwhile, Do Kwon’s
whereabouts are still unknown, and he avoids discussions about it
in his interviews. Regarding the ongoing Terra Classic recovery
campaign of the Terra Rebels, the Terra founder denied any
connection. He said he is not working on Terra Classic, but the
Terra Station still supports LUNC. However, the Terra Rebels aim to
stay independent of LUNA with their roadmap. Related Reading:
Monero Coin Climbs 6% In Last 3 Days – Bullish Activities Seen For
XMR In September, the volunteer developer group Terra Rebel
released their Terra Classic Revival Roadmaps. In their tweet on
September 29, the group announced that the roadmap and white paper
are available on their website. They also said it is subject to
change and declared they are open to accepting financial support.
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