- LUNA disaster victims pursue correct intervention against Cease Kwon.
- This comes after investors did not catch compensation from Terraform Labs.
- The UST and LUNA collapse has left investors reeling.
Fifty investors in South Korea who are plagued by the TerraUSD (UST) and LUNA debacles are pursuing correct motion and soliciting for property seizure from Terraform Labs CEO Cease Kwon and his family participants, in step with Korea Times. These investors delight in organized themselves under the name of the Korea Blockchain Victims Association.
In step with prior experiences, the investors instruct that Cease Kwon and his family worn company funds to affirm luxurious properties in South Korea and the US. The investors are reportedly planning to file a prison grievance against the CEO for embezzlement and fraud.
On high of all of this, the Korea Blockchain Victims Association has threatened correct motion against Terraform Labs’ auditor EY and its law firm Baker McKenzie. In step with the personnel, the auditor and prison educated passed over key red flags in Terraform Labs’ industry activities.