Terra Case Witness Faces 8 years for $70M Fraud
According to the local South Korean News Outlet, Korea Economic Daily, Kim Seo-Joon, a key witness called to testify in the Terra parliamentary inquiry, did not show up citing reasons of “extreme stress.” Seo-Joon is the CEO of venture capital firm, Hashed and an early Terra (LUNC, previously LUNA) investor. Seo-Joon cited reasons for “extreme stress” for not being able to attend the inquiry. As per the news report, Seo-Joon is one of six people shortlisted to participate in the South Korean parliament inquiry into the Terra collapse. The South Korean government is trying to better understand the events that led to the $40 billion wipeout of the LUNA and UST currencies. Seo-Joon sent a letter to the national assembly to explain his absence. He said that following the abrupt demise of LUNC (previously LUNA) and the de-pegging of its linked algorithmic stablecoin TerraClassicUSD (USTC), he experienced a serious mental breakdown. He stated, “I have ...