Terra’s Do Kwon reportedly seeks help from Korean law firm as probe heats up


Days after appearing in public following the demise of his company that caused repercussions in the cryptocurrency industry, Terraform Labs CEO Do Kwon reportedly hires a lawyer for possible legal action .

Indeed, Kwon appears to have requested the assistance of attorneys from a domestic law firm to help him prepare for the prosecution’s investigation, according to the report by local Korean media Naver published on August 17.

As the report states:

“He reportedly recently submitted an appointment letter to a lawyer from the Seoul Southern District Prosecutor’s Office.”

Interestingly, the Terra founder said earlier this week that he had “never” been in contact with Korean authorities or been charged with anything, such as Bloomberg reported.

The charges against the founders of Terra

As a reminder, the Terra founder is facing allegations of fraud after the widely publicized $45 billion collapse of the Terraform Labs ecosystem, including his stablecoin TerraUSD (UST) and his native token Terra (LUNA).

In late May, accusations of fraud surfaced in a series of tweets from a person known only by his Twitter handle. FatManTerra and dubbed “FatMan from Terra Research Forum”, a familiar source of leaks in the crypto industry.

As Finbold reported in late July, South Korean prosecutors investigating the Terra collapse have asked the Justice Department to issue an “on arrival notice” for Do Kwon and a travel restriction for the co. -Terra founder Daniel Shin, whose home they recently searched.

At the same time, investigators from the Seoul Southern District Prosecutors Office raided several local crypto exchanges, confiscating transaction records and other documents related to the Terra platform implosion.

Break the silence of several months

Meanwhile, Kwon finally broke his silence following Terra Luna’s collapse by appearing in a interview with Change published on August 15.

Before posting the interview, Coinage Zack Guzmán tweeted a teaser trailer in which Kwon addressed the stablecoin and called the crypto “the wild west”.


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