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- TerraLabs airdropped LUNA for LUNAC holders.
- TerraLabs claims that every receiver returned the token except Jimmy.
- They launched a smear campaign on Twitter against Jimmy, and Do Kwon personally threatened him.
Terraform Labs, the company behind TerraUST, absconding co-founder Do Kwon, are in the news again after the infamous Terra ecosystem collapses for conducting a smear campaign and threatening one of their community members.
Terraform Labs, shared in a January 5, 2023 Tweet, that a community member named Jimmy Lee was once entrusted with Terra community funds. He then refused to return the funds obtained during Genesis AirDrop.
Individuals holding the original native LUNAC token were upgraded to receive the newly minted LUNA token through AirDrop. Many individual signers received the LUNA airdrop, which would not have been the case because of an error in CW3 multisig wallets.
Now Terraform Labs argues that every multisig singer came forward and returned the accidental airdrop, everyone but Jimmy.
Jimmy’s accusation
Jimmy had accused that a smear campaign against him was being run on Twitter by Terraform Labs. Claiming that the company is deliberately lying about their interactions and showing only one side of the story, further adding that one never refused to return the accidental airdrop.
Clarifying ahead, Jimmy stated that he had transferred the liquid portion of the airdrop, which amounts between roughly $1 million and $1.5 million, to multisig Terraform Labs specified. Moreover, none of the airdropped tokens were sold or undelegated by him.
However, upon closer inspection, it was revealed that the chain upgrade failed to reset his vesting balances to the community pool and enabled the manual transfer of vesting tokens to the community pool, which caused him to worry regarding his tax concerns.
It was also revealed that the tax-related discussion continued until December 2022, but to no avail. Then comes January 6, 2023, Labs posted the Twitter thread as an act of smearing his name and caught him off guard in the middle of reconciliation.
Do Kwon threatening message
Jimmy went on sharing personal messages from Do Kwon himself, allegedly threatening him with dire consequences, including a threat to personal safety.
The threatening message reads:
“Just make it right, it’s not worth the hassle and endangerment this will bring to your life and/or reputation going forward. That’s all I’m gonna any anymore on the subject.”
The crypto community did not welcome this step from Do Kwon as they all rallied behind Jimmy against this act. Fatman, a Twitter handle dedicated to everything regarding the Terra-LUNA fiasco, was particularly exasperated. It backed Jimmy and criticized Do Kwon, saying that someone on the list of Interpol for financial crime should not have the audacity to threaten others for tax and legal advice.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
