South Korean prosecutors launched an investigation into all Terraform Labs employees following the collapse of UST.
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- South Korean prosecutors investigate whether Do Kwon manipulated prices.
- Informants revealed that Terra’s pilot failed at the time.
- New LUNA token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. also collapsed.
South Korea is a country that has not been standing still after the collapse of the stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. de Earth, FSO which led to a general downfall of the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. market. It has already taken several actions: last week, the South Korean law enforcement authorities carried out proceedings to freeze the assets of Luna Foundation Guard (LFG), an organization that supports the Earth . In addition, he held a meeting with the country’s exchanges to assess their responsibility and protection of users during the collapse . It also proceeded to research on the founder of Earth, Do Kwon.
Now, South Korean prosecutors have launched a comprehensive investigation of Do Kwon employees and Terraform Lab, according to local media. The joint financial and securities crime investigation team of the Seoul Southern District Prosecutors’ Office summoned the companies’ employees to find out whether they were aware before it all happened that a collapse was possible.
Pilot failed
The report says prosecutors obtained a statement from a whistleblower who said there were some reservations against “ the launch of Luna and Terra because the pilot model failed within the company at the time”. . Los fiscales creyeron que el activo fue lanzado y comercializado a pesar de esto. Según los informes, por esa razón citaron a todos los empleados de Terraform Labs: so that they can conduct a thorough investigation.
Prosecutors are also investigating whether Do Kwon manipulated prices and whether the asset went through a proper listing the addition of an asset or an asset pair to an exchange. review process. The questioning of employees could offer a fuller picture of what exactly went on behind the scenes and whether those at the top were actually aware that things could fall apart.
The number of people who file complaints against Terraform y Do Kwon continues to grow, according to media reports. Numerous lawsuits have been filed against those related to the project. Earth . Los legisladores también han entrado en la refriega, buscando escuchar a Kwon ante el Congreso, y las fuerzas del orden han pedido a los intercambios locales que congelen los activos pertenecientes a la Guardia de la Fundación Luna.
Whether or not these allegations are proven true, the Terra ecosystem is in deep trouble. Those in charge are pursuing multiple strategies to get back in action, but it doesn’t look like it’s going to be easy. Earth launched Moon a situation where there is a continuous upward movement in the price of a cryptocurrency. Often used in communities to question when a cryptocurrency will experience such a phenomenon, saying “When moon?” It is usually combined with “When Lambo?” 2.0 , a bid to revive the ecosystem Earth . No funcionó tan bien como les hubiera gustado, ya que the new token LUNA collapsed by almost 80 % after launching . Many investors appear to be selling to recoup some of the losses suffered from the collapse.
Adding to the problems is the fact that some South Korean exchanges are wary of including the new token. LUNA . The team could say that Earth 2.0 is the birth of a new blockchain, but investors remain skeptical. Many have been crushed after theenormes pérdidas.
It is worth noting that despite the post-launch drop and today’s news, Luna is recovering a little bit, it has a price 12.10% higher than yesterday according to CoinMarketCap. However, it’s still around $6, when it launched with prices near $20.
Sources:EthereumWorldNews, News.JTBC, archivo
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