Du Quan transferred $7 million to a legislation agency shortly earlier than the Terra crash (report).

Former crypto mogul – Do Kwon – despatched 9 billion gained (roughly $6.9 million) to legislation agency Kim & Chang earlier than Terra’s collapse final spring.

The 31-year-old South Korean was detained in Montenegro final month after allegedly switching places. His trial will decide whether or not he performed a task within the LUNA/UST fallout.

• In line with To Bloomberg, South Korean attorneys mentioned latest hypothesis that Kim and Chang had transferred funds earlier than the notorious tragedy “shouldn’t be false.”
• Then again, the legislation agency was reluctant to share extra particulars on the matter:

“We’re unable to supply specifics on particular person instances. Now we have carried out our authorized advisory providers as common and obtained a price for the providers lawfully.

• A number of companies and regulators, in addition to prosecutors, the accused Co-founder of Terraform Labs – Kwon – is the principle wrongdoer behind the notorious demise of the unique token – LUNA – and algorithmic stablecoin – UST – in Might 2022.
• Along with distressing investor losses, the $60 billion devastation brought about some to commit suicide. Regardless of the urgency of the state of affairs, Kwon didn’t cooperate with the related authorities on the time and is believed to have fled his hometown to keep away from a courtroom trial.
• His whereabouts remained a secret for nearly a yr, with Dubai, Singapore, Russia and Serbia being some attainable locations. It was lastly arrest In March 2023 on the airport of Podgorica (the capital of Montenegro).
• Whereas native magistrates required Kwon to stay in custody on native land for an prolonged interval of 30 days, his attorneys vowed to attraction the choice.
• Each the US and South Korea have requested his extradition, and it’s unclear the place he’ll obtain justice.