Terra Witness Skips Official Inquiry, Cites ‘Excessive Stress’ and ‘Panic Dysfunction’

Kim Web optimization-joon, CEO of enterprise capital agency Hashed and an early investor in Terra, failed to show up as a witness earlier than a listening to of the Korean Nationwide Meeting’s Political Affairs Committee, in line with an area information report on Monday. 

Web optimization-joon was one in all six witnesses summoned to higher examine the circumstances that led to Terra’s $40 billion collapse again in Might. 

In a press release, he mentioned, “After the Luna-Terra incident, I used to be underneath excessive stress, and my well being deteriorated and I wanted to stabilize.” The letter additionally claims Web optimization-joon is affected by “anxiousness” and “panic dysfunction.”

He enclosed a medical certificates confirming he has been receiving psychiatric therapy since July 29, is underneath added stress because of the remedy and counseling regime, and “is in absolute want of emotional stability right now.” 

On March 14, the Political Affairs Committee chosen key officers Kim Web optimization-joon, Chai Holdco director Shin Hyun-sung, former Bithumb Korea Chairman Lee Jung-hoon, in addition to main shareholders in Bithumb Kang Jong-hyun and Dunamu CEO Lee Seok-woo. 

Lee Jung-hoon additionally submitted a press release of cause for his non-attendance after failing to look on the Nationwide Meeting assembly held on 6 June. 

The previous Bithumb chief cited panic dysfunction and mentioned he’s now not concerned within the administration of Bithumb.

Terra reckoning

The warmth has been rising on Terraform Labs within the wake of USDT’s collapse. 

Headlines emerged in September {that a} South Korean courtroom had issued an arrest warrant for co-founder Do Kwon for allegedly violating capital market guidelines (whereas the Ministry of Finance voided his passport), although Kwon rapidly assured followers that he’s not on the lam

In September, world police community Interpol issued Do Kwon with a red notice for Kwon though he has but to look on the red notice list, which contains a whole of seven,135 names.

 

In the beginning of the month, Kwon denied experiences that South Korean prosecutors had frozen $39.6 million of his crypto after it was reported by Korean outlet News1

The earlier month, crypto exchanges OKX and KuCoin had cooperated with authorities to freeze 3,313 Bitcoin linked to Kwon, price round $62 million on the time.

A decide within the Seoul Southern District Courtroom in South Korea recently dismissed an arrest warrant for Terraform Labs’ head of basic enterprise operations Yoo Mo, citing a scarcity of necessity for his detainment. On the time of his arrest, Mo was described as a “key aide” to Terra.

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