Why was Luna owner allowed to create new Luna ?

[seomaster5]

He robbed people in billions and then he was allowed to create a new coin to repeat this with new investors.Is there any login behind this ? Or is it our fault that we trust these scammers even after they are found guilty once.

 

[aydenjz10]

its the wild west for crypto to an extent still, so getting him held fully responsible is a very monumental task

 

[bartosimpsonio]

There's no one regulating crypto. So he wasn't "allowed" by anyone.

He simply used his social network to launch yet another shitcoin which was quickly adopted by all.

 

[4ry4n]

I think one of the main points of cryptocurrencies were and still is the lack of an authority figure.
So the downside to that is that no one is there to uphold any laws as nobody has any special authority.

Also as much as I did read about the case which was very limited, it was not a technical error that caused the downfall but a Korean court case for millions in tax money. Now you can be on a tax evasion case and run businesses. Many people in top companies are doing that ongoingly.

 

[HustleTong]

Took advantage of the power of the community
Honestly, I don't see a lot of potential for this new network

 

[Ashk881]

He robbed people in billions and then he was allowed to create a new coin to repeat this with new investors.Is there any login behind this ? Or is it our fault that we trust these scammers even after they are found guilty once.

Technically you would argue that Do Kwon never robbed anyone of billions. Why? Because there's no legal parlance about it.

There's no law under which Do Kwon can be prosecuted and sent to jail. The law doesn't define overhyping and promoting a crypto project with shaky legs illegal. And since the crypto market is unregulated, even if there was a malicious intent by Do Kwon to defraud people out of their billions, he can't be prosecuted.

Stuff like this happened left and right back in the day when the stock market was unregulated too. Some company would make some dubious claims about their revolutionary product, brokers would overhype their stock, the company would go bust and people would lose millions. And the founder would just get away with it.

 

[TZ2011]

In my neck of the woods he wouldn't walk freely. Or walk, at all.

 

[HenryObi]

He robbed people in billions and then he was allowed to create a new coin to repeat this with new investors.Is there any login behind this ? Or is it our fault that we trust these scammers even after they are found guilty once.

It was an attempt to rescue the network and somehow compensate those who lost money investing and/or holding the original Luna.

 

[oatmeal]

It was an attempt to rescue the network and somehow compensate those who lost money investing and/or holding the original Luna.

so people like me still have hope I'll get my money back from LUNA? LOL.

 

[Project Limitless]

At this point, people deserve getting scammed. They never learn their lesson. Collectively, people must've lost billions of dollars to these shitcoins so far and yet they keep investing in newer shitcoins.

 

[Hawkeye Digital]

He claimed that he can fix broken glass vas again !

 

[OccultKingdoms]

This guy is a genius!

 

[seomaster5]

It was an attempt to rescue the network and somehow compensate those who lost money investing and/or holding the original Luna.

That can be good excuse to run the scam again.

 

[Solace84]

Like hell I don't understand, I just logged in to see my Lunna turned Lunc? Isn't this pure scam?

 

[4ry4n]

At this point, people deserve getting scammed.

It's not like these are all the same people. People enter and exit the crypto scene all the time.
As inexperienced or unintelligent as anyone might be, NO ONE deserves to get scammed at no point.

This mindset of people deserving to get scammed is how casinos and con man make themselves find good sleep.

Look at me going for a rant... sheesh... I know you didn't even mean it that bad...

(Btw I am still unsure if anyone was scammed, the fall of this currency seemed not a technical issue or some inside job)

 

[pewebly]

No regulated market full with greed people ready to do nasty tings for money

 

[higesan]

He claimed that he can fix broken glass vas again !

He just wants people to pay for the mistakes he made ....

 

[4ry4n]

He just wants people to pay for the mistakes he made ....

What were the mistakes though?

 

[irisXE]

It was an attempt to rescue the network and somehow compensate those who lost money investing and/or holding the original Luna.

Or just a new ponzi-scheme?

 

[MikeX93]

It is insane to me those that are still supporting Luna 2.0. I feel bad for those guys that are building projects on their network.