Do Kwon sent millions to his lawyers before the Terra crash
Bitcoin and altcoins

Do Kwon sent millions to his lawyers before the Terra crash

South Korean authorities have confirmed a report that Do Kwon, the founder of Terraform Labs, paid $7 million to his law firm before the Terra ecosystem imploded.

Indeed, South Korean prosecutors claim that before the Terra ecosystem collapsed, its founder, Do Kwon, had prepaid a top law firm in South Korea. About 9 billion won ($7 million) was sent to the law firm Kim & Chang.

This Monday, the Seoul prosecutor’s office said that Do Kwon, whose run ended last month, sent funds to his law firm before the stablecoin launched by his startup UST and the cryptocurrency LUNA collapsed, Bloomberg reports.

Last week, local media outlet KBS News reported that the Terraform chief had sent 9 billion won (about $7 million) to Kim & Chang’s law firm – some of it just before the drama. The report “is not false,” the South Korean government said.

We conducted our legal consulting services as usual and legitimately received the fees for the services,” Kim & Chang defended itself.

At the end of March, Do Kwon was finally caught in Montenegro. The Terraform chief is now facing charges in South Korea and the United States. He will first be tried in Montenegro before being extradited.

Nearly $40 billion went up in smoke following the Terra ecosystem crash last year, which subsequently triggered several large-scale bankruptcies, including 3AC.

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Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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