Daniel Shin Denies Fraud Allegations

Terraform Labs co-founder Daniel Shin responded to the allegations against him. Shin suggested that the network was unaware of any flaws in its algorithm.

Daniel Shin Denies Fraud Allegations. The Terra earthquake continues to affect the cryptocurrency markets. Finally, Terraform Labs co-founder Daniel Shin made a statement in which he denied the allegations. Speaking to the Financial Times, Shin stated that he was not aware of any flaws in the network's algorithm. LUNA and UST, which crashed in the past weeks, caused a collapse in the cryptocurrency markets. While investors were chasing their losses, important commentators of the market suggested that it was a fraud. Changpeng Zhao, CEO of Binance, one of the world's largest cryptocurrency exchanges, said that the incident was not fraud, but 'stupidity'. After the developments, Terraform CEO Do Kwon prepared a recovery plan and submitted it to users' votes. In parallel with the result of the vote, it was decided to restart the Terra network. The old LUNA was renamed LUNC (Luna Classic).     Source: Coincolic     You may also be interested in: https://ieconomy.io/terranin-yeni-tokeni-lunada-binance-etkisi/