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Key witness in Terra crash hearing missing due to mental health issues



Kim Seo-joon, CEO of investment firm Hashed and one of the early investors in blockchain project Terra, cites "extreme mental stress" after Terra's spectacular collapse as the reason for his absence from the parliamentary hearing on the project's crash.


As Korea Economic Daily reports on October 24, Seo-joon is one of six "star witnesses" chosen to speak at a hearing in the South Korean parliament to explain how the blockchain company's major collapse was caused by the suddenly 40 billion US dollars were destroyed.


By his own account, Seo-joon has been suffering from severe psychological problems since the events surrounding Terra, which is why he unexpectedly stayed away from the hearing. The investor writes in a letter:


"Since the crash of Terra (LUNA), I have suffered from anxiety disorders and panic attacks caused by extreme psychological stress."

Along with his letter, Seo-joon submitted a medical certificate and a therapy record to Parliament, showing that he has received medical treatment in the meantime and is still receiving psychotherapeutic treatment as of July 29.


However, the medication prescribed only made Seo-joon's anxiety disorders worse, which is why, according to his therapist, he "is in dire need of emotional stability right now."


A few months after the collapse of Terra (LUNA), Seo-joon revealed to Bloomberg that Hashed suffered massive losses of USD 3.6 billion because the company owned USD 30 million. LUNA.


Earlier this month, Lee Jung-hoon, chairman of crypto exchange Bithumb, missed a related parliamentary hearing on Oct. 6, also citing panic attacks as the reason for his absence.


Other witnesses summoned so far include Bithumb shareholder Kang Jong-hyun, the CEO behind UpBit operator Lee Seok-woo, director of Chai Holdco Shin Hyun-sung, and Terraform Labs co-founder Daniel Shin.


Interestingly, Terra CEO Do Kwon was not summoned to the parliamentary hearing, which is probably due to the fact that, according to the police authorities, he is still on the run.

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