Kwon Do-hyung, the key figure in the Terra and Luna crash
May sued and accused against investors
Submitted a recent attorney appointment letter to the Seoul Southern District Prosecutors’ Office
Dohyeong Kwon, CEO of Terraform Labs, a key figure in the collapse of the Korean virtual assets Terra USD (UST) and Luna (LUNC), has appointed a domestic lawyer.
According to the legal community on the 17th, CEO Kwon has appointed lawyers from a domestic law firm and is preparing for the prosecution’s investigation. He is said to have recently submitted a letter of appointment to an attorney at the Seoul Southern District Prosecutors’ Office, which is investigating the case.
Earlier on the 15th, according to Bloomberg News and Coinage, CEO Kwon said in an exclusive interview with Coinage, a cryptocurrency media, released on the same day, he was asked about his plan to return to Korea and had never contacted the Korean investigative authorities.
He denied the allegations of fraud, saying, “I am responsible for the weaknesses in which the short selling forces would have benefited.”
Earlier, in an interview with the Wall Street Journal (WSJ), he denied criminal responsibility, saying “failure and fraud are different.”
In May, CEO Kwon and the co-founder of Terraform Labs, Shin Hyun-seong, co-chairman of Timon’s board of directors, were sued and indicted on charges of fraud and violation of the Act on Similar Receiving Acts.
Accordingly, the Seoul Southern District Prosecutors’ Office has been conducting investigations by forming a team of the Financial Securities Crimes Joint Investigation Team and some prosecutors from the Financial Investigation Division 2.
Kim Hyun-deok, reporter at Hankyung.com [email protected]