Kim Seo-joon, CEO of venture capital firm Hashed, one of the key witnesses who was absent at the Terra’s parliamentary investigation explained it was due to “severe stress” caused by the Terra catastrophe.
According to a Korea Economic Daily article published on October 24, Seo-joon was one of six individuals chosen to participate in the most recent investigation by the South Korean parliament to learn more about the circumstances that led to the infamous $40 billion destruction of Terra’s cryptocurrency.
Seo-joon claimed in a letter that the abrupt demise of LUNC and the de-pegging of its linked algorithmic stablecoin TerraClassicUSD (USTC) caused him great mental distress. He wrote:
“Since the Luna-Terra crash occurred, I have been suffering from anxiety disorder and panic disorder due to extreme mental stress.”
Seo-joon sent an expert opinion and a medical certificate with the letter he sent to the National Assembly, both of which confirmed that he had been hospitalized and receiving therapy from a psychiatrist since July 29.
According to the professional judgment, Seo-joon is “absolutely in need of emotional stability at this time,” and both medication and counseling treatment were stated to have made his anxiousness worse.
According to an August interview with Bloomberg, Seo-joon said that Hashed had lost $3.6 billion from its peak value in late April, having possessed 30 million LUNC tokens, a few months after the historic LUNC collapse.
The chairman of the South Korean exchange Bithumb, Lee Jung-hoon, also skipped the parliamentary session on October 6 and claimed a panic disorder as the cause of his absence earlier this month.
Kang Jong-hyun, a major shareholder in Bithumb, CEO of Dunamu, the company that runs UpBit, South Korea’s largest cryptocurrency exchange, Lee Seok-woo, Chai Holdco Director Shin Hyun-sung, and Terraform Labs Co-Founder Daniel Shin are other witnesses who have testified at various stages of the investigation.
Do Kwon, the CEO and co-founder of Terra, was not included in the list of those about whom Korea’s Political Affairs Committee was to question, despite the fact that investigators from several countries are still looking for him.
