Subscribe to our Telegram channel

The Luna token team admitted that the project manager was aware of the problems before the crash

10:26 am, May 31, 2022

South Korean law enforcement officials are working incredibly fast — only yesterday it became known that the Terraform Labs team had been summoned to the prosecutor's office, and today the first testimony of employees appeared in the media.

The employees, knowing Do Kwon's legal problems, decided not to joke with the prosecutor’s office — one of them has already testified. According to the employee, whose name was not disclosed, at the start of the project, many within the team noted the problems with the Luna token.

At the level of the trial model, it had many defects and failed during preliminary testing, but the management decided to ignore these shortcomings and launched the token for public sale.

Other employees confirmed that direct pressure was exerted by CEO Do Kwon, who forced the team to list the UST stablecoin despite the understanding that the pyramid could collapse at any time. However, market analysts also realized this.

If prosecutors can prove Do Kwon’s knowledge, he could face charges of intentional harm to customers and a lengthy prison sentence.

Subscribe to our Telegram channel

BTC

$93,286.56

-2.44%

ETH

$3,347.25

1.68%

BNB

$684.24

5.52%

XRP

$2.18

-1.35%

SOL

$188.87

5.11%

All courses
Subscribe to our
Telegram channel!
The latest news and reviews of the cryptocurrency markets of the last
day right in your messenger. We are waiting for you!
GO TO
Show more