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Do Kwon Suggests Sicking FBI on Man Who Accidentally Received $1.5M in LUNA

2 mins
Updated by Kyle Baird
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In Brief

  • Terraform Labs co-founder Do Kwon has sparked discussion over a remark on using the FBI to nab what TFL believes is someone who is not returning funds.
  • The incident relates to a Terra community member who says he accidentally received $1.5 million in LUNA.
  • The community member wishes to sort out tax implications, while TFL tweeted that he was not.
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One Terra community member stated that he had accidentally received $1.5 million in Luna. Terraform Labs stated that he is refusing to return the funds, and Do Kwon suggested that the FBI should be involved.

Terraform Labs co-founder Do Kwon has riled up the crypto community after an incident regarding a transfer of funds from TFL to an individual. Kwon suggested calling the FBI on the person in question — which the community finds amusing given his fugitive status.

The incident involves one Jimmy Le, who goes by “stablejim” on Twitter. TFL allegedly accidentally received $1.5 million worth of LUNA after Terra began its plan to launch the new LUNA token. TFL claims that Le was “entrusted with Terra community funds but has now refused to return funds gained from this entrustment to the Community Pool.”

In his lengthy tweet thread, Le explains that through a series of difficult conversations, he had accidentally been sent $1.5 million in LUNA. He attempted to discuss the tax implications of this with TFL’s legal counsel, Dentons. Le received a form asking for a token return and release agreement from Dentons. But he said he wanted to speak to tax advisors as the situation was unique. 

After settling on a law firm in Singapore, Le saw that TFL tweeted the claim that he had refused to return the funds. Le says he only wishes to follow the law. However, he’s surprised by the fact that he “received threats of law enforcement action and threats to [his] personal safety.”

The crypto community appears firmly on the side of Le. They discuss with levity the fact that Kwon, a fugitive, is threatening (perhaps flippantly) Le with action from the FBI.

Luna Classic (LUNC) Price

Kwon Last Seen in Serbia

Kwon’s own status is the subject of much discussion in the crypto world. The latest reports suggest that Kwon is in Serbia after much hunting from authorities. Kwon is also wanted by Interpol, with a red notice having been issued. 

Kwon has denied that he is trying to hide. His efforts, whatever they are, are now exponentially tougher, as South Korean officials have invalidated his passport.

Kwon Chimes in on the Role of FTX

Kwon also commented on the FTX incident after reports that it may have had a role in the LUNA and UST crashes. He posted a series of tweets saying that Genesis Trading purchased billions in UST and transferred it to FTX or Alameda before the crash. Essentially, he is positing market manipulation.

Kwon said, “What’s done in darkness will come to light.” Though LUNA investors are focusing on Kwon’s arrest instead. He has remained out of sight for a long period, but that may not last long, given the intense manhunt.

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Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...