Shocking effect in the cryptocurrency market TerraUSD (UST) and Terra (LUNA) The collapse still continues to show its effects.
LUNA under investigation for crash Terra founder Do Kwon He was facing tax evasion charges by the South Korean government.
According to a report on local news outlet Naver South Korea Tax Office Terraform Labs and its founder Do Kwon for tax evasion charges 100 billion won ($78 million) punished.
The Tax Office accused Terraform Labs and Do Kwon of evading Income and Corporate Taxes.
The report states that Terra’s founder, Kwon, has been dissatisfied with the taxation of cryptocurrencies in the country since last December. LUNA It was emphasized that before the collapse began, Terra began purges to move its headquarters abroad.
This directly raised suspicions about Kwon’s tax avoidance.
The report also included Do Kwon, Terraform Labs and other officials were warned of paying a tax of 100 Billion won shortly before the LUNA collapse.
It is also stated that the Tax Office even conducted a special tax investigation against Terra’s parent company in June 2021.
Terra founder after this collapse Do Kwon Recently LUNA and TOP announced his recovery plan. This plan has been submitted for community approval and voting is still ongoing.