Korean Government investigates Do Kwon as he Dissolved Terra Labs Korea Days Before the Collapse

The 99.9999% catastrophic collapse of LUNA and the depeg of UST has created major ripples in the cryptocurrency world, and irreversibly shaken the public’s trust in “algorithmic stable coins”.

It has now been 10 days since this historic event, and a pattern starts to emerge.

UPDATE: Terra 2.0 drops over 80% in 10 days. Read more.

CEO Do Kwon to be prosecuted by South Korean government

In an even more surreal turn of events, Do Kwon has filed to liquidate the Terra Labs in South Korea days before the depeging event.

The shareholder meeting on April 30th put both Busan and Seoul offices up for dissolution, and were officially dissolved on May 4 and May 6 respectively naming Do Kwon as the liquidator.

It is currently unknown whether Do Kwon had any prior knowledge of the crash, however the timing of this decisions is rather suspicious considering the catastrophic event that occurred only 5 days later.

However, in case this was an escape plan conjured up by a criminal mastermind, you’ll be glad to know that it has not worked.