With its collapse in May 2022 cryptocurrency triggering a larger crash in the market Terra-LUNA There was a new development in the investigation.
Prosecutors investigating the Terra collapse since May, the e-commerce company Donga reported, South Korean yeel news agency Former CEO of TMON Mr. A demanded his arrest.
Prosecutors order the arrest of the former CEO of TMON terra He claimed that he accepted bribes worth billions of South Korean won during the process of promoting the cryptocurrency.
Prosecutors claim that former CEO of TMON, Mr. A, received a request to introduce Terra (LUNA) from Daniel Shin, chief executive of CHAI Corporation, who was Terraform Labs’ co-founder and then chairman of the board.
Responding positively to this request, Mr. A promoted Terra and received LUNA in return.
Mr. A later won billions of won by cashing these LUNAs he bought.
Prosecutors argued that the massive advertisements and articles on Terra made people believe Terra was a safe asset and invested their money in Terra.
Prosecutors also noted that massive demand from investors prompted crypto exchanges to list LUNA.
Prosecutors demanded the arrest of Terraform Labs co-founder Do Kwon, in addition to the former CEO of TMON, due to the Terra-LUNA crisis.
However, despite all the searches, it is still unknown in which country Do Kwon is.
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