The South Korean government has reformed its toughest financial investigation team and sent them after Do Kwon and Terraform Labs. Investors in the project are also launching criminal and civil suits against Kwon. https://cointelegraph.com/news/grim-reapers-financial-crimes-unit-revived-to-investigate-terra-collapse
More legal trouble is on the way for Terraform Labs, as it was slapped with a $78 million fine by the South Korean watchdog.
The charge? Tax evasion. https://buff.ly/3NmaoOG
The national tax agency of South Korea has penalized a 100 billion won fine on Terraform Labs and its co-founder Do Kwon for evading taxes. https://cointelegraph.com/news/south-korean-watchdog-reportedly-fines-terraform-labs-78m-for-tax-evasion
@JTS_Global Whatever happens, the best advice is to only put into #crypto what you can afford to lose. It’s a volatile market so stay #SAFU
#BTC #TRX #WINK #WIN
$BTC $TRX $WIN
In Light of UST and #LUNA Crash: G7 Countries to Discuss #Crypto Regulations (Report) ๐ค #BTC #TRON #ETH #BNB $BTC $TRX $ETH $BNB ๐คทโโ๏ธ https://cryptopotato.com/in-light-of-ust-and-lunas-crash-g7-countries-to-discuss-crypto-regulations-report/
1/ Terra governance prop #1623 to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live.
Vote here: https://station.terra.money/proposal/1623 https://twitter.com/TerraBuildersU/status/1526848409100922880
1/๐
The Terra Builder Alliance is excited to finally share a united proposal for the vision of the new Terra 2.0 chain.
This united proposal has only been possible through a superhuman effort from everyone involved.
https://agora.terra.money/t/luna-go-forward-proposal/7136
Fully support this proposal. I sympathize with all in this unforeseen crisis. I would like to commit $10 million USDD to the recovery of the bottom 236k UST holders. I believe this will benefit the ones affected the most and show our unity! Details to be announced soon! https://twitter.com/PersianCapital/status/1525226161944506368
The second way is to prioritize smaller wallets. People who had a couple thousand or more of UST deposited in Anchor.
If Terra just focussed on the “poorest” 99.6% of wallets, then they could make this gigantic group 100% whole.
Yes, you read that right!
4/
