In 2009 ,[TLDR] Bernie Madoff lost investors 60billion usd in his ponzi scheme. The ponzi slowly unravelled during the Great Recession when investors started to want to withdraw funds, he wasnt able to keep up with the withdraw requests as he was now lacking funds. He eventually told his sons. They then reported it to the feds. He was then sentenced to 150 years in prison.
In 2022, Do Kwon lost investors around 60billion (Luna and UST combined market value). He then created Luna 2.0
It baffles me how he has the guts/audacity to launch Lunacy two point zero.
For old luna bag holders / new comers thinking on “investing” on lunacy 2.0, I will leave you with a quote to think about.
“Fool me once , shame on you. Fool me twice, shame on me”
Now I wonder if Do will ever see jail time? As south korean authorities are conducting investigations with regards to the collapse of both ust and luna. Plus allegations that Terraform Labs is being used to move/launder money.