Sunday, June 23, 2024
HomeCryptocurrencyConversation History Reveals that Do Kwon Instructed Employee to Manipulate Terra (LUNA)...

Conversation History Reveals that Do Kwon Instructed Employee to Manipulate Terra (LUNA) Price

An official from the South Korea prosecutor’s office has disclosed that a conversation history shows that Do Kwon, the founder and CEO of Terraform Labs, instructed one of his employees to manipulate Terra (LUNA) price.

In a report published by a local news site Naver, a new fact linked to the collapse of Terra blockchain has further implicated the founder, Do Kwon. This new revelation is one of many allegations levels against him and it’s widely thought that he’s currently on the run.

Read Also: Do Kwon Speaks On the Chance of Burning His Terra Classic (LUNC) Holdings

Going by the report, Kwon instructed a Terraform Labs employee to artificially adjust the price of Terra (LUNA) to a certain level. Affirming the allegation, an official from the prosecutor’s office said that the allegation is based on messenger chats between Kwon and a Terraform Labs employee.

The official said:

“I can’t reveal the details, but it was a conversation history where CEO Kwon specifically ordered price manipulation.”

Meanwhile, Kwon claimed that he hasn’t seen any copy of the arrest warrant from Korean authorities as claimed in the media. He said this during an interview with Laura Shin of Unchained.

“We haven’t seen a copy of the arrest warrant, so every piece of data that we’re consuming regarding this is from the media, which as you can imagine in a situation like this, is kind of hectic. There’s a lot of contradictory information.”

Read Also: Terra Founder Do Kwon Would Soon Become an Illegal Migrant in Singapore. Here’s Why

Speaking about why he doesn’t want to reveal his current location, he said “when the crash happened in May, there were lots of situations where personal security was threatened. People broke into my apartment building in multiple cases. The media televised my home in South Korea as well as my home in Singapore. Every time the location where I live becomes known, it becomes almost impossible for me to live there.”


Kwon added that a lot of things that are coming from South Korea about him are not true. He said he does not whether the government is intentionally misleading the public or a sort of simple mistake.

Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Latest News & Articles