It’s time to listen to the other side. Fat Man Terra used to be a cog in the Terra machine, but nowadays he’s the protocol’s biggest critic. He’s also a researcher, and his investigation lead him to believe that Terra was a scam from the very beginning. It was a scam, of course. Laura Shin’s Do Kwon interviewFat Man Terra was rubbed wrongly. Exercising his right of reply, he went back to the platform and shared his version.
According to Fat Man Terra, Terra/ Luna is an abominable horror story.
A court will probably decide if he’s right or wrong, though. Let’s explore his allegations, taking into account that this is just the investigator’s interpretation of the facts. Although he may have more information about Terra/ Luna’s case than any other person on Earth, it is possible that he has some additional knowledge.
This is the introduction to the episode titled “Fat Man Terra Speaks: Do Kwon Is a ‘Sociopath’ and a ‘Charismatic Manipulator”:
“Fat Man Terra, the anonymous Twitter account dedicated to bringing Do Kwon to justice, reacts to my recent interview with Do Kwon and says what he thinks it revealed about his personality.”
Here’s the video:
Fat Man Terra presents The Case
- According to the pseudonymous investigator, the Terra creators were “unfairly enriching themselves” and failed to disclose critical information to investors. This was intentional.
- Regarding his interview with Shin, Fat Man Terra thinks Do Kwon was “dancing around questions” and didn’t answer directly several of them.
- He thinks Do Kwon was “intentionally lying” about Terra’s breakup with Chai. The interview was recorded both at the time it occurred and afterwards. At best the situation was “heavily mishandled.”
- Fat Man Terra claimed that TerraForm Labs had cashed out billions. They always cashed out.
- He also thinks there’s proof that the organization has “hundreds of millions stashed away.”
- According to the pseudonymous investigator, at the time Terra claimed that the protocol was attacked, but could not find “proof of fraud.”
The investigator also thinks that Do Kwon is “not able to stick to one story.” That’s a characteristic that fraudsters often exhibit. And he claims there’s a reason that regulators all over the world are looking at Terra specifically. Some things don’t add up, and this case is far from over.
LUNA price chart on Eightcap | Source: LUNA/USD on TradingView.com
Opinions About Do Kwon’s Character
Respectfully Fat Man Terra will go for the throat. He’s been studying Do Kwon and his diagnosis is that the man is:
- A “sociopath with little regard for people’s feelings.”
- “Avoiding law enforcement” and “definitely on the run.”
- You are a fool. Apparently, Do Kwon held all of the company’s bitcoin reserves in a single wallet.
- A liar. He must have been aware that his involvement with the unsuccessful algorithmic stablecoin Base Cash was important and should have reported it.
- The thief. Do Kwon pretended to believe Terra was the best and promoted it to retailers. In reality, he was “simultaneously pulling out” hundreds of millions.
Fat Man Terra believes it boils down to that. “If you really believe in UST, why did you cash out so much,” he asks Do Kwon. Also, why did he made up statistics and inflated the network’s numbers?
The investigator will “start to believe he’s sorry” when Do Kwon starts making affected Terra investors whole from his own pocket.
Fat Man Terra Is Still Optimistic
There will be parasites in and around the crypto-space forever. According to Fat Man Terra, if the industry wants to survive we have to start “calling out scammers” and “pushing for justice.” He believes the industry will develop “failsafe mechanisms” to filter out bad actors and, in general, he’s “optimistic about the future of the space.” Make no mistake, though. Despite the optimism, the investigator claims that “Terra was a scam at every level.”
Laura Shin claims that Do Kwon will return to address the accusations in the near future.
Featured Image: Screenshot of the interview. Charts from TradingView| Charts by TradingView