{"id":27455,"date":"2022-05-20T09:55:12","date_gmt":"2022-05-20T13:55:12","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=27455"},"modified":"2022-05-20T10:04:12","modified_gmt":"2022-05-20T14:04:12","slug":"terraform-labs-korea-dissolved-days-before-luna-crash","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/terraform-labs-korea-dissolved-days-before-luna-crash\/","title":{"rendered":"Terraform Labs Korea dissolved days before LUNA crash"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-legal-documents-disclose-the-liquidation-of-two-south-korean-offices-and-the-dissolution-of-the-terraform-labs-korea-firm-in-the-days-leading-up-to-the-luna-crash-by\">Legal documents disclose the liquidation of two <a href=\"https:\/\/coinscreed.com\/staging\/terra-founder-do-kwon-charged-with-tax-evasion-in-south-korea.html\" target=\"_blank\" rel=\"noreferrer noopener\">South Korean<\/a> offices and the dissolution of the Terraform Labs Korea firm in the days leading up to the LUNA crash by .<\/h5>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-111.png\" alt=\"Terraform Labs Korea dissolved days before LUNA crash\" class=\"wp-image-27457\" width=\"699\" height=\"353\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-111.png 562w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-111-300x152.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-111-150x76.png 150w\" sizes=\"(max-width: 699px) 100vw, 699px\" \/><figcaption>Terraform Labs Korea dissolved days before LUNA crash<\/figcaption><\/figure><\/div>\n\n\n\n<p>According to information collected from the country's Supreme Court Registry Office and first reported by South Korean news site Digital Today, <a href=\"https:\/\/coinscreed.com\/staging\/sec-subpoenas-terra-ceo-do-kwon-for-mirror-protocol-investigation.html\" target=\"_blank\" rel=\"noreferrer noopener\">Do Kwon <\/a>effectively liquidated two branches and an entire firm.<\/p>\n\n\n\n<p>During a general shareholders meeting on April 30, both the Busan headquarters and the Seoul offices consented to be dissolved, with their demise taking place on May 4 and 6, respectively.<\/p>\n\n\n\n<p>The timing of these choices has raised eyebrows in the crypto world due to their possible link to the financial obliteration of Terra (LUNA) and<a href=\"https:\/\/www.google.com\/search?q=Terraform+Labs+Korea+dissolved+days+before+LUNA+crash&rlz=1C1SQJL_enNG889NG889&oq=Terraform+Labs+Korea+dissolved+days+before+LUNA+crash&aqs=chrome..69i57j69i60.535j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\"> UST stablecoins<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> in the early hours of May 10.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-twitter\"><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">1\/ We have published an amendment to Proposal 1623, incorporating the community\u2019s feedback since its publication 2 days ago. Please see below for details \ud83d\udc47<a href=\"https:\/\/t.co\/liISBn3Baa\" target=\"_blank\">https:\/\/t.co\/liISBn3Baa<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/p>&mdash; Terra \ud83c\udf0d Powered by LUNA \ud83c\udf15 (@terra_money) <a href=\"https:\/\/twitter.com\/terra_money\/status\/1527486972268367872?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 20, 2022<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<p>Terra is now implementing a revitalization strategy based on the second amendment to the <a href=\"https:\/\/coinscreed.com\/staging\/do-kwon-proposes-new-governance-protocol-to-save-terra-blockchain.html\" target=\"_blank\" rel=\"noreferrer noopener\">governance Proposal 1623<\/a>. If passed, it will make three changes to the current system: increasing genesis liquidity from 15% to 30% to &#8220;mitigate future inflationary pressures,&#8221; implementing a new liquidity profile for pre-attack $LUNA holders, and reducing funds to post-attack $UST holders.<\/p>\n\n\n\n<p>&#8220;$UST peg failure is Terra's DAO hack moment &#8211; an opportunity to rise up afresh from the ashes,&#8221; Kwon said in the proposal paper, with a network launch set for May 27.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Legal documents disclose the liquidation of two South Korean offices and the dissolution of the Terraform Labs Korea firm in the days leading up to the LUNA crash by . According to information collected from the country&#8217;s Supreme Court Registry Office and first reported by South Korean news site Digital Today, Do Kwon effectively liquidated [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":27457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-27455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-111.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=27455"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/27457"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=27455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=27455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=27455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}