back to article Interpol seeks Do Kwon, man blamed for $40b crypto implosion

Korean prosecutors say they have obtained an international wanted persons notice from Interpol to help them find Terraform Labs crypto exec Kwon Do-hyung, aka Do Kwon. Kwon, whose company is headquartered in Singapore, has been quiet since the weekend of September 17, when his verified Twitter account sarcastically noted he …

  1. Anonymous Coward
    Anonymous Coward

    Now roomates with Jho Low?

  2. VoiceOfTruth

    Real or crypto bucks?

    -> investors' money in the so-called stablecoin to the tune of $40 billion

    Is that actual $40 billion in real currency, in which case it is a lot. Or is it $40 billion of hashes?

    1. Anonymous Coward
      Anonymous Coward

      Re: Real or crypto bucks?

      Hashes, nothing backing these things but other crypto and NFTs.

      UST increases in price above $1? Mint more UST and use it to buy LUNA.

      UST drops in price below $1? Mint more LUNA and use it to buy UST.

      So now you have lots and lots of fake UST and LUNA tokens, and very few real buyers.

      A totally fake asset bubble.

      Buy some other crypto crap with your last pump of the bubble. When you dump, it will crash. So you tell people 'we'll trade out our other crypto to stablize UST. BUY THE DIP, which actually results in idiots giving them more money as the crash is happening.

      Now you've got lots of real money taken from suckers, and all done right under the noses of securities regulators.

  3. Jan K.

    "I will tell you... where I am if... we are involved in a GPS-based web3 game."

    Ah! Here's a crazy idea...

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