Crypto: Will Terra UST victims be reimbursed?

Following the Terra (LUNA) crash, Do Kwon, the founder of the ecosystem, promised to compensate the holders of the crypto. As refunds are delayed, it becomes more difficult to know Do Kwon’s whereabouts. The individual, still wanted, is nevertheless active on social networks and sometimes gives interviews. In an interview he gave to Unchainedhe located each other on the issue of refunds.

No reimbursement for LUNA victims

Interviewed by Laura Shin of Unchained, Do Kwon shattered thousands of people’s dreams of getting their money back. He claimed that as things stand, there could be no refunds for holders of the LUNA crypto. According to his explanations, no refund will be made, as long as the dispute has not been settled. He adds that he does not know how long the procedures initiated before the judicial authorities will last.

Do Kwon’s interview with Unchained

Regarding legal actions against the Luna Foundation Guard (LFG), he indicated that it is unable to compensate users. Indeed, it is not able to liquidate its assets. For information, the LFG, whose activity focused on the promotion of the Terra (UST) blockchain, suffered heavily from the bear market. A good part of its reserves would have melted. In early October, the organization which initially had more than $4 billion, said a balance sheet of $116 million.

Furthermore, Do Kwon denied having enough funds available to reimburse everyone. He also said regret the losses suffered by investors in the collapse of LUNA.

Do Kwon wanted to restore the truth about certain information circulating in the press concerning its crypto ecosystem. Thus, no arrest warrant has been issued against him and his name is not on Interpol’s red list. Recall that in September, South Korean prosecutors in charge of the case announced that they had issued an arrest warrant against him. However, the person concerned is still not in the hands of the authorities. Regarding Terra Classic, the founder of Terra denied any connection with the new developers.

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