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S.Korea Gets Aggressive With Their Terra Crash Analysis! Here Is What They Found

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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May 30, 2022

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According to local media sources, prosecutors have recently summoned employees of Terraform Labs as part of their investigation into the Terra crash.

On Saturday, the Terra blockchain made a comeback with a launch of new LUNA currency and an airdrop. However, their problems with the Luna Classic and USTC crash are becoming more serious.

LUNC Gets Unveiled Amidst The Failure

According to sources, the Seoul Southern District Prosecutors’ Office summoned all those who were previously present in the Terra’s construction. The investigation has gathered some critical information about the situation. Meanwhile, according to the reports, Do Kwon pushed the token launch despite being told not to.

According to a Terra employee, CEO Kwon was aware that the chain may collapse at any time. Despite this, he chose to proceed with the launch. According to the report, this individual was present in the early stages of the creation of LUNA in 2019. During the examination, it was known that many opposed the launch. Even the blockchain pilot concept within the corporation failed.

The message says that investors will be levied tens of percent over the period in interest, with no guarantee of collateral or profit. Though  Investors come first, the price will have to reduce over time. The interest rates and value fluctuation are too much for the model to handle.

Terra 2.0 Bottoms

Terraform Labs’ “Basis Cash,” a similarly designed digital currency, collapsed in the same way. The price of basis cash dropped in just 3 months following the initial price increase. However, the LUNA classic price has dropped by more than 90% since its debut.

The price of Terra crash’s freshly minted LUNA token has dropped by about 70% since the airdrop began. Following its initial price range of $17-$18, now the token is changing hands at $6.15.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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