The well-known whistleblower has come to TFL’s defence because he has found a major flaw in the Coindesk Terra report that proves it to be false.
A popular Terra influencer who goes by the name FatMan has criticised a report by Coindesk Korea and Uppsala Security that said TerraForm Labs (TFL) was the owner of the wallet that caused its ecosystem tokens UST and LUNA to crash.
The Coindesk report is false, says FatMan.
FatMan went on Twitter to talk about the problems he found in the report. This showed that the so-called investigation by Coindesk Korea and Uppsala Security was not real.
CoinDesk Korea just released the bombshell revelation that the wallet behind the UST depegging is actually owned by Terraform Labs. If true, this would mean TFL intentionally caused the depegging. https://t.co/FPvEYjuuq1— FatMan (@FatManTerra) June 14, 2022
But it's not true – it's total nonsense. (1/4)
Remember that Coindesk Korea put out a report saying that TFL was linked to the wallet that did the transactions, which caused the de-pegging of Terra USD (UST) on purpose. As a result, the price of the coin fell by a huge amount. FatMan said that the report is not true and that it is “nonsense.”
It’s all over the news. It’s already popular in Korea, and Korean prosecutors are using the information they found. It can also be bought on Huobi Global. But I found a big flaw in their report, which was based on research from a chain analysis company called Uppsala Security. “This makes the whole thing false,” FatMan said.
FatMan pointed out the report’s conclusion and said that the wallet called the “LUNC DAO wallet” does not belong to Terra. He also said that the address in the report is a “hot wallet” on KuCoin.
The well-known Terra whistleblower said that it is clear that the two addresses are not linked just because they both got money from the KuCoin trading platform for cryptocurrencies.
He also said that his recent finding shows that the report is scary and doesn’t have any solid proof to back it up.
FatMan said, “I’m disappointed that a well-known site like CoinDesk Korea would publish this without doing basic checks.”
FatMan had accused Kwon of cheating before.
FatMan had recently said that Do Kwon, the founder of TFL, owned a mysterious wallet with more than 20 million LUNA coins in it.
PS. If you need your reports fact-checked, feel free to get in touch. I'm always here. I am disappointed that an outlet as prestigious as CoinDesk Korea would publish this without running basic checks.— FatMan (@FatManTerra) June 14, 2022
FatMan said that the Terra founder had been using the wallet to vote on proposals made on Terra to make sure things went his way at the expense of the community.
Terra and Kwon’s roles in the fall of LUNA and TFL have drawn a lot of attention in recent months. Recently, it was said that the boss of Terra took out more than $2 billion in cash weeks before Terra went down.
But Kwon has denied all of the reports that say he or his company did something wrong. He says that TFL is focused on making investors whole and doesn’t want to be distracted by bad news.