A Terra “Kill Switch”, CEO Do Kwon Revealed In An Interview from 2021

In the middle of the controversy in the LUNA and UST’s recent price crash, a video post on Twitter went viral of Terra co-founder Do Kwon discussing the controversial ‘Kill Switch’ and describing it as “Protocol Armageddon.”

In a video recovered from 2021, Kwon was heard uttering that Terra has a kill switch and it would burn all assets and cut all ties in 24 hours. According to him, if Terraform Labs were unable to “best serve the community,” the company would “pull the trigger” and terminate all ties with the blockchain.

He said,

We have sort of… something called Protocol Armageddon at the company. So what Protocol Armageddon is, is that it’s a Kill Switch. So whenever we feel like we’re no longer in a position to be able to best serve the community, we pull the trigger and in 24-hours we’re gone. We burn all of our assets, we cut all of our ties, and it’s nothing. So that’s just in case things move a little bit faster than we’re anticipating.

The video has sparked speculation as to whether or not Do Kwon could have predicted the collapse of the Terra ecosystem and if he may have been involved. As Do Kwon also stated in another video, it’s exciting to start from nothing and end with nothing. He calls it “the cycle of life.” The Terra founder goes on to opine that “that is where I want to be.”

A lot of people in the crypto community conveyed their disappointment with Terra’s CEO. A Twitter user and crypto blogger, @cryptoxpress101, said that Kwon should be held accountable and if (in case) he pulls the trigger, it’s no different than “cyber theft”.

At the time of reporting, Terra (LUNA) trades at $0.0001999, up roughly 4.19% in the past 24 hours.