Terbongkar, Do Kwon Manipulasi Harga Terra LUNA!

The founder of Terra LUNA, Do Kwon, is known to have manipulated LUNA prices. (Photo; Doc. BeInCrypto)

JAKARTA The Terra LUNA case has become the center of attention of various circles because its value has fallen more than 99 percent in May 2022. The founder of Terra LUNA, Do Kwon, began to be hunted by authorities including the South Korean government and Interpol. Kwon reportedly manipulated the price of LUNA.

According to a recent report, the South Korean prosecutor has obtained evidence of LUNA's price manipulation by Do Kwon. The information was also conveyed by a crypto influencer on Twitter, FatMan @FatManTera.

According to a local news source, Fat Man Terra said prosecutors had a private conversation between Kwon and one of his employees, in which Kwon ordered LUNA's market price to be manipulated. However, the prosecutor did not reveal further details.

"I can't reveal the details, but it's a history of conversations where Kwon's CEO specifically ordered price manipulation," according to prosecutors, as reported by CryptoSlate.

They also found that Kwon currently lives in Europe. This also means that Kwon is an illegal immigrant there because the Korean government canceled his passport at the end of October.

Right Hand Do Kwon Diringkus

In October, Korean officials discovered and arrested the Head of Public Affairs Terraform Labs, Yoo Mo, for defrauding the public by falsifying market data. Mo's arrest warrant was issued on October 5, and he was arrested on October 6. Given his close relationship with Kwon, Korean officials consider him a key actor in Terra-Luna's investigation.

However, Mo's arrest did not last more than 24 hours, as the Korean District Court rejected Mo's arrest warrant on October 6. The judge concluded that Mo may not have violated the Capital Market Act by manipulating LUNA prices because Korean law does not classify LUNA tokens as security.

Korean prosecutors did not reveal whether Kwon spoke to Mo in a private conversation obtained on November 3. However, Kwon is still literate by stating that the actions of South Korean authorities are outside their jurisdiction.

"The consistent attitude of the Korean government, and even from the Financial Services Commission directly, that cryptocurrencies are not securities... and it is not within their jurisdiction to regulate cryptocurrencies for that reason," said Do Kwon on October 18, 2022.