Do Kwon promises to return lost funds to investors in Terra – Crypto News

Altcoins

TerraForm Labs founder Do Kwon has promised to continue developing the Terra project to ensure that the victims of terra’s collapse receive full compensation for their losses.

His tweet about this, as we should guess, speaks to the hard work ahead.

The publication of his message coincided with the moment when the price of LUNA soared by more than 300% to a 24-hour high of almost $ 7. Thanks to this, the token was able to rise to the 59th position in terms of market capitalization from the previous 205th place.

However, luna’s sudden jump coincided with a sharp drop in the price of the Luna Classic (LUNC). A few hours before publication, LUNC lost 15% and dropped to $0.00042.

As for the collapse of the Terra ecosystem, the main culprit of the collapse of Kwon continues to deny all accusations of fraud. He disagreed that Terraform Labs had sold 435,000 LUNA tokens to Binance as a result of the LUNA 2.0 giveaway.

In response, Kwon wrote that the address did not belong to Terra, thinking that we should believe him:

I can definitely confirm that this is not a TFL wallet; how can you keep coming up with all sorts of nonsense?