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Terra (LUNA) is alive – at least the missing CEO Do Kwon

 


According to the latest reports from Korea, the refugee Terra CEO, Do Kwon, is currently traveling in Europe. The Ministry of Foreign Affairs in Seoul has canceled his passport on this news.


Investigators have found chat logs showing that the CEO of Terraform Labs, the company behind Terra (LUNA), who is wanted on an arrest warrant, is currently in Europe and participating in Twitter discussions from there.


His last post on the Do Kwon account in Twitter is from 11/03/2022:

Before his passport was declared invalid, Kwon made his way to a third European country via Dubai. Exactly what that is is unknown.


According to Korean law enforcement, evidence suggests that Kwon manipulated the price of the LUNA token. As reported by the news portal mentioned, Do Kwon is said to have ordered price manipulation through his employees in chats.


While the CEO is on the run and verbally defends himself against the allegations, supporters of the crashed token do not want to be defeated and are promoting the further development of the Terra project.


After Kwon's Twitter posts often provide contradictory information, the community is dependent on news portals. As early as October, news from a South Korean court caused an uproar within the Terra community. Here the question was whether LUNA can be regarded as a security at all and consequently falls under Korean law.


A dubious case also occurred in the immediate vicinity of the former Terra CEO: a Terraform Labs employee named Yu was briefly arrested. He is reportedly accused of violating the Korean Capital Markets Law in line with the use of automated trading tools or bots, as well as fraud and breach of trust. He is now free again.


Where Yu is currently staying is unknown. Like CEO Do Kwon, he has most likely gone into hiding and is awaiting final clarification.


This should also interest investors who lost a lot of money in the LUNA crash. Within a week, the project destroyed over 38 billion US dollars - according to the BBC, around 250,000 investors were affected by the crash.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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