Very strange rumors – Since May 9, 2022 and the loss of indexation of the stablecoin UST against the US dollar, rumors and conspiracy theories circulate around the smoldering remains of the project Terra (LUNA). The latest rumors from the hallway suggest that Do Kwonco-founder of Terra, would have dissolves the development company Terraform Labs just before the onset of the cataclysm.
Terraform Labs South Korean offices closed shortly before May 9 crash
After the fall of TerraUSD (UST), the token LUNA of the project Terra also quickly descended into hell. And this, despite the sacrifice of $3 billion in Bitcoin reserves. A disaster for many crypto-investors, who made pitch down the entire digital asset market.
The matter is taken so seriously that the South Korea has launched an investigation on the subject. Inquiry which invites in particular Do Kwon – the CEO of Terraform Labs – to explain this lightning catastrophe.
And according to many sourcesincluding Cointelegraph, documents from this ongoing investigation allegedly revealed that the dissolution of the South Korean subsidiary of Terraform Labs would have been decided at a general meeting of shareholders on April 30 latest.
Terraform Labs headquarters is located in the port city of Busan. It would thus have been closed on May 4. Then afterwards, the May 6it is its offices located in the Korean capital, Seoul, which would have closed their doors for good.
Although Terraform Labs is a company based in Singaporethis sudden withdrawal from South Korea interrogatesespecially in its temporality, just before the collapse of the UST and the LUNA.
Its subsidiary Terraform Labs Korea had nevertheless been founded from September 2019, i.e. from the first years of the life of the project. A terra crumb rescue plan is currently being discussed. But if this new information turns out to be good exactshe would come to sow a little more trouble in the thick fog where the LUNA blockchain is already.
Despite the Terra crash, big moves are underway to write a future of finance where crypto will be central. Join the movement by registering on FTX the rising platform! Benefit from a reduction on trading fees thanks to the Journal du Coin (affiliate link).
