Terra founder is not as bad a bad guy, but should face punishment for the accident he made, says BitBoy.
Despite the negative conception the cryptocurrency community has of Do Kwon, the CEO and founder of TerraForm Labs (TFL), Ben Armstrong, the famous YouTuber, who goes by the brand name BitBoy Crypto, does not think bad of him.
In a recent tweet, BitBoy Crypto said the TFL founder, whose company founded Luna Classic (LUNC) and UST Classic (USTC), is not as bad as Alex Mashinsky, founder of Celsius Network, whose project recently filed for bankruptcy.
He added that Kwon was unfortunate to build a cryptocurrency project with a tokenomics vulnerability, which malefactors would always exploit.
“I don’t think Do Kwon is a bad guy like Alex Mashinsky. I think he built a project with a tokenomics vulnerability that was always going to be exploited,” Armstrong said.
However, Armstrong did not rule out the fact that Kwon should be held responsible for investors’ losses, as he implied that the Terra founder caused the incident.
“But just like when someone causes a car accident that results in a death… he must be held accountable for it on some level,” Armstrong added.
I don't think Do Kwon is a bad guy like Alex Mashinsky. I think he built a project with a tokenomics vulnerability that was always going to be exploited.
But just like when someone causes a car accident that results in a death… he must be held accountable for it on some level.
— Ben Armstrong (@Bitboy_Crypto) September 26, 2022
Terra Victims’ Unfriendly Nature Toward Kwon
Since the collapse of the Terra ecosystem, the project’s founder, Do Kwon, has been lambasted across various social media platforms for the unfortunate incident. It can be recalled that Terra’s previous flagship algorithmic stablecoin UST (now referred to as USTC) lost its peg to the dollar, leading to the massive collapse of other ecosystem tokens like LUNA (now referred to as LUNC).
Victims of Terra ecosystem token collapse have moved from sending death threats to hurling insults at Kwon in recent months for being responsible for their losses.
Global Authorities Pile Kwon’s Woes
It is noteworthy that Kwon’s troubles have continued to soar in recent weeks after South Korean prosecutors issued an arrest warrant for violating the country’s capital markets laws. Since the development, Kwon’s whereabouts remain unknown, with many suggesting he is currently on the run.
As reported by TheCryptoBasic yesterday, the international policing organization, Interpol, issued a red notice for the Terra founder, ordering law enforcement agents across the globe to arrest Kwon.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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