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Former TMON CEO Gets Arrest Warrant for Allegedly Receiving LUNA Bribes (Report)
South Korean authorities have reportedly issued an arrest warrant for a former CEO of e-commerce giant TMON. He is said to have accepted bribes worth billions of won in Terra (LUNA) to promote the infamous blockchain project. Terra splashes further into the water As reported by a local media outlet, an ex-head of Korean e-commerce company TMON has been slapped with an arrest warrant over his interactions with collapsed cryptocurrency project Terraform Labs. Prosecutors accused him of receiving bribes in the form of LUNA tokens to promote the failed project's products. Additionally, Daniel Shin – co-founder of Terraform Labs and co-creator of…
Former TMON CEO Gets Arrest Warrant for Allegedly Receiving LUNA Bribes (Report)
South Korean authorities have reportedly issued an arrest warrant for a former CEO of e-commerce giant TMON.
He is said to have accepted bribes worth billions of won in Terra (LUNA) to promote the infamous blockchain project.
Terra splashes further into the water
AsreportedAn ex-head of Korean e-commerce company TMON has been slapped with an arrest warrant by a local media outlet over his interactions with collapsed cryptocurrency project Terraform Labs. Prosecutors accused him of receiving bribes in the form of LUNA tokens to promote the failed project's products.
Additionally, Daniel Shin – co-founder of Terraform Labs and co-creator of TMON – is said to have urged the former CEO to introduce LUNA as a payment method on the platform.
Investigators believe that the potential culprit made significant profits after cashing out the accepted digital assets. The arrest warrant is scheduled to be reviewed on February 17th.
The crash of Terra’s native token – LUNA – and its algorithmic stablecoin – UST – in May last year is still reverberating through the cryptocurrency space. It triggered severe investor losses and some people even committed suicide.
The main culprit (according to many) – Do Kwon – was reluctant to cooperate with law enforcement in the matter and fled his home country. His whereabouts are still unknown as sources have previously suggested he could be hiding in Dubai, Russia and Mauritius.
Did Kwon find refuge in Serbia?
Despite promising to reveal his mysterious whereabouts, Terra's co-founder has still not provided such information. The latest sourcesindicatedhis current hiding place could be the Balkan country of Serbia. Korean authorities asked their Serbian counterparts for help if Kwon was still in the region.
In addition, Interpolissueda red note on the 31-year-old developer, meaning law enforcement officials worldwide should band together and arrest him if they discover his whereabouts.
A delegation of Korean authorities led by a senior Justice Ministry official traveled to Serbia earlier this month to join the hunt for Kwon. Prosecutors in Seoul said the reports that he was hiding in the European nation were "not false."
Kwon has kept a low profile in recent months, which could be another sign that he is trying to escape the long arm of the law. He stopped posting on Twitter since his last tweet appeared more than two months ago.
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