Founder of Luna cryptocurrency suspected of tax evasion

According to the South Korean media, the prosecutor’s office has launched an investigation into Terraform Labs CEO Do Kwonfor tax evasion. Law enforcement agencies have already seized all tax data of Terraform Labs.

So far, it has been found that in June 2021, the National Tax Service detected a «suspicious flow of money from a foreign corporation» that conducted transactions between Singapore and the Virgin Islands. It is also reported that Do Kwon evaded taxes on profits of 50 billion won ($ 39 million) and did not tax the purchase of an apartment for his family.

New stories in the Do Kwon case are emerging all the time. Most recently, a blockchain security company accused the founder of the cryptocurrency Luna of the project’s collapse. The address believed to be responsible for the «fatal» transaction belongs to Terraform Labs. This means that the crash was caused by internal actions, not external attacks, as previously thought.