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Former Employee Exposes Terraform Labs. 📇ℹ️
Terraform Labs, a prominent name in cryptocurrency, is now under scrutiny as serious allegations surface from a former employee. Lee, a whistleblower, sheds light on alleged illicit activities by Terraform Labs founders, Kwon Do-hyeong and Shin Hyun-seung.
Kwon and Shin are accused of considering TerraUSD as a payment option to investors, despite its potential legal ramifications. Lee contends that the founders, fully aware of the illegality, still saw TerraUSD as a means of payment, raising significant ethical concerns.
South Korean authorities have initiated legal action against Kwon and Shin following the collapse of the Terra-Luna project. This legal move suggests that the founders might be held accountable for their actions.
Lee's testimony reveals that Kwon was cognizant of the fact that TerraUSD, being a stablecoin, couldn't be utilized as a legitimate payment method.
In a twist, Terra CFO Han Chang-joon has been extradited from Montenegro to South Korea, indicating an impending investigation by Korean authorities.
The unfolding events cast a shadow of potential legal repercussions for Terraform Labs and its founders. The cryptocurrency community eagerly awaits further details as the investigation continues to unfold. Stay tuned for updates on this evolving story.
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