Big money. Big names. Big crimes. Cryptocurrency is a radical technology with incredible potential. The kind of potential that fraudsters and criminals can’t resist exploiting. We’re launching “Crypto Crooks” to dig into their schemes, in the hopes of protecting investors from getting taken in. We’ll explore how nefarious actors draw in victims, where their rackets start to unravel – and how their empires crumble, taking investors down with them.
Listen carefully, and maybe you’ll be able to steer clear of Crypto Crooks.
This week we delve into the underlying mechanisms of terraUSD and how they incentivized experienced investors to drive the stablecoin into a death spiral.
"Crypto Crooks" is sponsored by Chainalysis.
Do Kwon wasn’t creating a new grift. His coin was history, repeated. Financial experts foretold the failure of Do Kwon’s empire from the beginning – because they’d seen it all happen before, at the Bank of England no less.
In our deep dive into terraUSD, we examine how the death spiral that ate the stablecoin alive was knit into the very fabric of the project. It was no accident, fluke or unexpected occurrence: It was inevitable.
Next up, our season finale – and then, a bonus episode on the bombshell revelations of an SEC investment suit against Do Kwon, filed this February.
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Episode transcripts are available at coindesk.com/podcasts/crypto-crooks.
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Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, web3 companies, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com.
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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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