Did Do Kwon dissolve Terraform Labs before the crash?
Leaked documents show that Terraform Labs had been dissolved on April 30, days before the harrowing crypto crash.
- May 18, 2022,
- Updated May 18, 2022 6:48 PM IST
Do Kwon, the founder of Terraform Labs, is under heat again. Leaked documents circling the Internet has revealed that the founder had dissolved the infamous Terraform Labs days before their native token, Terra Luna crashed.
As per information revealed in the official documents obtained by DigitalToday, Terraform Labs, which is based in South Korea, had decided to liquidate itself during its general shareholders' meeting on April 30.
According to the official record, the Busan branch was liquidated on May 4 and the Seoul branch on May 5, with the liquidator's name being Kwon Do-Hyeong, the real name of Terraform Labs' CEO Do Kwon.
According to CoinMarketCap data, Terra Luna was trading down 4.43 per cent at $0.0001794 at 4.50 PM IST.
Recently, Terraform Labs founder Do Kwon’s plan to hard fork the Terra blockchain was rejected during preliminary voting rounds.
Terra Luna, the volatile cryptocurrency by Terraform Labs, had plummeted amid the TerraUSD, the stablecoin by Terraform Labs, de-pegging fiasco.
Also Read: Terra blockchain halted again as crypto TANKS 99.99% Also Read: Cryptocurrency markets crash: Terra Luna down 99.99%, will it wipeout?
Do Kwon, the founder of Terraform Labs, is under heat again. Leaked documents circling the Internet has revealed that the founder had dissolved the infamous Terraform Labs days before their native token, Terra Luna crashed.
As per information revealed in the official documents obtained by DigitalToday, Terraform Labs, which is based in South Korea, had decided to liquidate itself during its general shareholders' meeting on April 30.
According to the official record, the Busan branch was liquidated on May 4 and the Seoul branch on May 5, with the liquidator's name being Kwon Do-Hyeong, the real name of Terraform Labs' CEO Do Kwon.
According to CoinMarketCap data, Terra Luna was trading down 4.43 per cent at $0.0001794 at 4.50 PM IST.
Recently, Terraform Labs founder Do Kwon’s plan to hard fork the Terra blockchain was rejected during preliminary voting rounds.
Terra Luna, the volatile cryptocurrency by Terraform Labs, had plummeted amid the TerraUSD, the stablecoin by Terraform Labs, de-pegging fiasco.
Also Read: Terra blockchain halted again as crypto TANKS 99.99% Also Read: Cryptocurrency markets crash: Terra Luna down 99.99%, will it wipeout?