2025-12-12 05:30:11

#以太坊行情技术解读 $BTC $ETH $LUNA

🔥The Truth Behind the Luna Crash: From Wealth Creation Myth to 15 Years Behind Bars

Remember the once globally popular LUNA? In May 2022, this star project suddenly collapsed. Founder Kwon Do-hyung—Stanford alumnus and "crypto prodigy"—built a crypto empire that vanished in the blink of an eye. UST, which was pegged to $1, plummeted disastrously, and LUNA's price dropped from hundreds of dollars to nearly zero. Investors worldwide lost over $40 billion in assets.

‼️But this was not an unexpected market event; it was a carefully orchestrated scam. Prosecutors confirmed that Kwon Do-hyung secretly manipulated traders to inflate UST's price while claiming externally that the stability was solely algorithmic—using flowery words to deceive retail and institutional investors into continuous buy-ins. In 2023, he attempted to escape from Montenegro to Dubai with fake documents but was arrested. He was subsequently extradited to the US, pleaded guilty, and was sentenced to 15 years in prison (up to 25 years possible).

What does this verdict tell us? Those who profit from false information and market manipulation—playing the "harvest" game—will eventually pay the price. The once legendary wealth story has ultimately become a tragedy written with investors' blood and sweat. For everyone in this market, this is the best warning: unregulated frenzy can come at a heavy cost.

ETH-0.11%

LUNA-0.34%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

11 Likes

Reward
11
5
Repost
Share

Comment

0/400

DaoResearcher

· 12-14 06:09

From the perspective of governance proposals, the design of the Quandao Heng mechanism is essentially a typical case of incentive incompatibility. The algorithmic stablecoin model of UST cannot withstand game theory scrutiny. According to on-chain data, this kind of centralized manipulation by traders has long violated the original intention of decentralization. The Bitcoin white paper does not advocate for such practices. A loss of $40 billion... It is worth noting that this reflects how fragile the voting power of retail investors is under token weighted voting. Once unregulated DAO mechanisms are infiltrated by power structures, they become tools for cutting leeks. Fifteen years of imprisonment serve as a warning to all ambitious players.

View OriginalReply0

GasFeeCrier

· 12-13 01:37

Oh my, it's the same old trick again. Kwon Do-Hyun really gave the crypto circle a lesson. --- 400 billion just disappeared like that, it’s painful to watch. --- Daring to claim algorithmic stability while manipulating prices? How big does his brain have to be to come up with that? --- The absurdity of fleeing to Montenegro is off the charts, it's like a spy movie. --- Retail investors are stabbed, and institutions can't escape either. This is a no cap lesson. --- 15 years in prison is nothing, the problem is how to return that 400 billion to the people. --- Every time I see this kind of news, I wonder when the next scam will appear. --- Algorithmic stability? The algorithm is just those two hands, laugh out loud. --- The crypto circle still needs to keep playing, but this time, we need to use our brains.

View OriginalReply0

MidnightSnapHunter

· 12-12 06:00

Wow, Quan Daoheng is really ruthless. 40 billion just gone like that? Retail investors are bleeding losses.

View OriginalReply0

MoodFollowsPrice

· 12-12 05:42

Quan Daoheng really turned the crypto world into a scam scene --- I almost bought into LUNA during that wave, luckily I didn't. Looking back now, it still gives me chills --- Promised algorithmic stability, but it all turned into manipulation trading. This is outrageous --- Started in 2015, Brother Quan has really gone big this time --- 400 billion just disappeared like that. Retail investors are the most innocent group --- Why do these kinds of incidents keep happening in the crypto world? Ultimately, it's because no one is regulating --- Even a Stanford graduate can't resist human greed --- Escaping from Montenegro to Dubai haha, I said, how imaginative this guy is

View OriginalReply0

FOMOSapien