It is at this moment that all eyes are on Dokwon and his team at Terraform Labs since the fall of Terra Luna and UST and the release of Terra 2.0, with several allegations against the founder and TFL, some of which The allegations include individual witnesses. and evidence of financial path records which can be used in future court proceedings
Now, the U.S. Securities and Exchange Commission (SEC), which cites evidence from Naver, states that Do Kwon planned months in advance that Terra was about to collapse, with Do Kwon transferring funds out of the fund. of the company “Every month, over the course of several months in a row”
The average total value is approximately 100 billion won or 2,700 million baht transferred to different international bank accounts, recorded as part of Operating Expenses or operating expenses. which the transfer of such money out comes from self-acting without being approved by the Board of Directors which the person who disclosed this set of information They are employees of Do Kwon’s company.
In addition, Do Kwon and TFL face more serious charges than they already have. If these allegations are proven with conclusive evidence. which in south korea Both agencies are facing allegations of tax evasion. The IRS, which collects taxes, has charged fines and the amount of taxes payable up to $78 million.
Plan in advance to increase the interest rate in the system by 20% before transferring the debt.
According to additional reports from South Korean media outlets, Do Kwon and TFL were aware that Terra was on the verge of collapse months before the Luna and UST disasters, while employees who were aware of the vulnerabilities in the system. And in remote testimony to the US SEC, they said they had reported the vulnerability to Do Kwon about the potential threat. Of the design flaws of the Terra ecosystem, Do Kwon ignored their warning. Do Kwon also intentionally increased interest rates from 3.6 percent to 20 percent per week prior to launch, according to Terra Anchor Developer, causing UST to halt and ultimately result in the collapse of LUNA.
While Bitkub Online Co., Ltd. or Bitkub has issued a warning to investors. Which is in the process of reviewing the features of the service in the Bitcoin Exchange digital asset exchange center.
This is because the fundamentals of the Terra Classic coin (‘LUNC’ or formerly LUNA) have changed significantly. especially in the supply of coins that occur and resulted in a dramatic drop in prices. This led to the migration of the LUNC ecosystem (formerly) to the Terra2.0 ecosystem (‘LUNA’ or the new LUNA coin), which made the various factors of LUNC unclear, namely the benefits of The coin’s use (Utility), long-term development plans for LUNC’s Node Validator, as well as various news of Terra’s uncertainty and Terra news are preparing to be investigated by the South Korean investigative agency. both in part Terra’s (Do Kwon) founder’s Twitter account has been changed to a private account, and South Korean investigators are set to investigate Terra.
For the reasons mentioned above, Bitkub Exchange would like to notify investors. Please trade Terra Classic Coin (LUNC) with caution. because it is in the process of considering service qualifications in the asset trading center and the price can be highly volatile.
In addition, if the original LUNA coin price (LUNC) drops below 0.0001 baht, which is the lowest price the trading system can support, Bitkub Exchange will temporarily suspend trading of the coin. You can also cancel pending orders. can and perform LUNC withdrawal transactions as usual (Refer to the announcement regarding setting the lowest price of LUNC coins)
While the LUNA coin listed on the bitcoin board The current exchange is Terra Classic Coin (LUNC), not Terra2.0 Coin (LUNA). Exchanges after the scheduled Post-attack Snapshot (May 27, 2022 time 02:59:51 (Thailand time)) will not result in receiving airdrop coins according to the guidelines set by the coin issuer. (Refer to the announcement explaining about support for air drop LUNA)