Are There Any Chances Of Terra UST Victims Getting Refunded? Let’s Find Out

Victims of the recent Terra crash, which is also known as the largest crypto market crash ever, are expecting a reimbursement. The LUNA founder Do Kwon answered the victims’ queries in an Unchained interview.

Unchained asked Unchained if predepeg UST holders would get reimbursement, or if it was a carpet pull. Terra founder Donovan Terra rescinded his May tweet in which he promised to pay USDT and USDC for pre-depeg UST holder. He explained why Luna Foundation Guard, (LFG), cannot compensate users.

Terra Founder: No refund after all lawsuits are settled

Do Kwon stated his reasons for saying that LFG cannot liquidate assets. The LFG is currently facing legal action and Do Kwon stated they won’t distribute tokens until the matter is resolved.

However, LUNA founder doesn’t know when or how long it would take to complete the legal proceedings. The idea of compensation was like an effort to give 313 Bitcoins in USDT or USDC to holders. He insisted that there would be no refunds.

Are There Any Chances Of Terra UST Victims Getting Refunded? Let's Find Out
BTC remains low in the daily chart. Source: BTCUSDT tradingview

Do Kwon also denied that he had personal funds to refund investors after the Terra-LUNA collapse.

After several actions taken against the LUNA Founder his South Korean passport has been revoked. He will no longer be able to travel there. He isn’t planning on returning to South Korea soon and he won’t cooperate with the prosecution.

Do Kwon claim that no arrest warrant was issued against nor has he seen his name on Interpol’s Red Notice? South Korean authorities declared Terra founder Terra wanted and issued an arrest warrant. 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.

Terra founder Denies any connection to the Terra Rebels ongoing Terra Classic Recovery Campaign. While he denied working on Terra Classic at the Terra Station, he stated that LUNC is still supported by Terra Station. The Terra Rebels, however, intend to remain independent from LUNA using their roadmap.

Terra Rebel, a volunteer developer organization, released its Terra Classic Revival Roadmaps in September. Their tweetOn September 29, the group revealed that their white paper and roadmap were available for download on their website. It was also announced that it could be updated and they would accept financial assistance.

Pixabay Featured Image, Charts from Tradingview

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