CRYPTO CROOKS: Lunacy Episode 4 – Our Twisted Hero

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4.8 • 689 Ratings

🗓️ 21 March 2023

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the season finale, we look at the man behind the curtain – and tease out just how many crimes he committed.

"Crypto Crooks" is sponsored by Chainalysis.

Do Kwon has evaded, deflected and run away. But his empire’s crimes are like a trail of breadcrumbs, always leading back to him.

In our season finale, we take stock of Do Kwon’s twisted legacy: the myriad crimes and deceptions he enacted, the system he built to prop them all up and the lies he’s still spouting while running from both nominal responsibility and the law.

But there’s more: stay tuned for a bonus episode. We’re digging into the bombshell updates to the saga since February, when the SEC filed its investment fraud suit against Do Kwon and Terraform Labs.

Clips:

Episode transcripts are available at coindesk.com/podcasts/crypto-crooks.

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“Crypto Crooks” is a CoinDesk Podcast Production. The executive producer is Jared Schwartz, with additional production by Eleanor Pahl, Nora Battelle, Jonas Huck, and Moon Beast. Fact-checking is by Amber Von Schassen, and sound design and music are by Altus Noumena. This show is written and voiced by David Z. Morris.

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Transcript

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1:03.2	To be honest, I just oppose this idea of just making a UST itself.
1:08.7	I think there was an internal debate about it. but there was an idea coming out that the yield
1:14.3	has to be produced at that time.
1:16.4	And I just called in like, this is most prolonged exit scam.
1:21.4	Because there's no way, there's no way that stable coin produced yield after I saw the basis cash and what they were doing.
1:30.5	Hyeongsuk Kang joined Doquan's Terraform Labs on July 1st of 2020 as a contract engineer.
1:38.8	His focus was smart contract development, meaning he wrote code but but also contributed to decisions about Tara's
1:45.7	economics. He says that he very soon started to see things that disturbed him. Before long,
1:52.7	he decided he didn't believe in Tara's main application, the stable coin Terra USD, which he refers to
1:59.8	by its ticker symbol, UST.
2:04.3	He didn't just think it was fragile or flawed.
	...

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