![](https://miro.medium.com/max/1035/1*hfW8ymQQwEwgNjIl5M8GQQ.png)
[Photo Source](https://miro.medium.com/max/1035/1*hfW8ymQQwEwgNjIl5M8GQQ.png)

> Numerous unconfirmed reports surfaced connected June 11, claiming Kwon’s information successful draining liquidity retired of LUNA and UST earlier the clang to acquisition US dollar-pegged stablecoin specified arsenic Tether (USDT). Rumors astir Kwon cashing retired LUNA and UST reserves surfaced aft a Twitter thread by @FatManTerra shared the alleged details connected however Kwon, on with Terra influencers, managed to drain funds portion artificially maintaining the liquidity.

[Cripto Internacional. [Do Kwon dismisses allegation of cashing out $2.7B from Terra (LUNA), UST](https://compreiativo.com.br/do-kwon-dismisses-allegation-of-cashing-out-2-7b-from-terra-luna-ust-51744.html). (Accessed June 12, 2022)].

![20220612 2.png](https://images.hive.blog/DQmSVr9Lgzsj4v1JYzAB6CcT8kxqDkEBRJqXMP43s7R1Zuk/2022-06-12%20(2).png)
[Photo Source](https://twitter.com/FatManTerra/status/1535623662153437185)

Anyone truly interested in this story should go to @FatManTerra's Twitter page and read his full alleged account as to how Kwon played this out. Very interesting indeed - click [here](https://twitter.com/FatManTerra/status/1535623662153437185) to go to Twitter.

In response to these allegations, Kwon likewise took to Twitter to voice his position:

![20220612 3.png](https://images.hive.blog/DQmXmAb3PrZXLVRaUvM3bZSWegDsbS5Zw1QrqsYikovDq5u/2022-06-12%20(3).png)
[Photo Source](https://twitter.com/stablekwon/status/1535811519182606336)

> Kwon told the community that 'spreading lies' adds to the pain of all LUNA investors, commenting: 'I didn’t say much because I don’t want to look like a victim, but I lost everything I had in the accident. I’ve said this many times but I don’t really care much about money'.

[MetaCrunch. [Do Kwon dismisses allegation of cashing out $2.7B from Terra (LUNA), UST](https://metacrunch.org/do-kwon-dismisses-allegation-of-cashing-out-2-7b-from-terra-luna-ust-2/). (Accessed June 12, 2022)].

And in related News:

> Mr. B, a developer from Anchor Protocol, a Terra-centric sub-ecosystem, allegedly warned Kwon about the unrealistic high-interest rates. Mr. B said that the platform was designed only to offer an interest rate of 3.6% for keeping the Terra ecosystem stable, but was changed to 20% just before the release: 'I thought it was going to collapse from the beginning (I designed it), but it collapsed 100%'.

[Sarkar, A. [Do Kwon dismisses allegation of cashing out $2.7B from Terra (LUNA), UST](https://cointelegraph.com/news/do-kwon-dismisses-allegation-of-cashing-out-2-7b-from-terra-luna-ust). (Accessed June 12, 2022)].

Mr. B further alleges that he made attempts to raise this issue with Kwon prior to the launch in 2019:

> Just before the release, I suggested to CEO Kwon Do-Hyung that the interest rate should be lowered, but it was not accepted.

[Ng, F. [Anchor dev claims he warned Do Kwon over unsustainable 20% interest rate](https://cointelegraph.com/news/anchor-dev-claims-he-warned-do-kwon-over-unsustainable-20-interest-rate). (Accessed June 12, 2022)].

Clearly, the troubles faced by Do Kwon as a result of the collapse of Terra/UST continue to mount as predicted [See, e.g. Nagoda, K. [The Fallout From Terra's UST Trashing - Extends Well Beyond Terra](https://leofinance.io/@kevinnag58/the-fallout-from-terra-s-ust-trashing-extends-well-beyond-terra). (Accessed June 12, 2022)].

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