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 , 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.
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Following several actions against the LUNA Founder, his South Korean passport has been revoked and will be invalid this week.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.
In September, the volunteer developer group Terra Rebel released their Terra Classic Revival Roadmaps. In their 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.
Featured Image From Pixabay, Charts From Tradingview
