Is $LUNA CEO headed to Jail ? — Crypto's Latest news
Even though Terra V2 is already operational, the consequences of Terra V1 are still being felt.
The Seoul Southern District Prosecutors’ Office’s financial and securities fraud investigation team summoned Terraform Labs personnel engaged in the blockchain’s initial creation, according to JBTC, a South Korean television network. Employees are said to be opposed to the introduction of UST because of potential “value volatility,” according to the article.
Authorities are also investigating whether LUNA went through an appropriate listing review procedure when applying to exchanges, as well as alleged price manipulation. Investors who lost money as a result of the disaster have filed new lawsuits against Terra CEO Do Kwon. According to JBTC, 76 investors have filed a complaint.
Terra is confronted with the probe at an inconvenient moment.
The V2 version of the blockchain, which is a hard fork of the renamed Terra Classic, was just released. The network is designed to be community-owned, with previous Luna Classic and UST holders receiving the majority of the token allotment.