Irrefutable Proof? Terraform Labs CEO’s Chats Reveal Intent to Deceive Investors

IconCryptoNewsTerminal Staff17 Jun, 2024

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Irrefutable Proof? Terraform Labs CEO’s Chats Reveal Intent to Deceive Investors

Kwon Do-hyung Admits Plans to Fabricate Transactions Conversations between Terraform Labs CEO Kwon Do-hyung and former Chai Corporation CEO Shin Hyun-seong have surfaced, exposing their alleged intent to deceive investors. In a message exchange, Kwon suggests creating fake transactions to present a false impression of growth. Shin responds positively, agreeing to test the strategy on a small scale. Evidence Submitted in Court and Civil Lawsuit The prosecution considers these chats as evidence supporting their claim that Kwon and Shin sought to manipulate Terra-related transactions and mislead investors from the company's inception. Similar conversations have also been presented in a civil lawsuit in the US Southern District of New York, where the SEC found Kwon liable for fraudulent activities. This new development further strengthens the case against Terraform Labs and its executives, echoing the findings of the SEC's investigation. Investors who suffered losses due to these alleged deceptive practices may find solace in the growing body of evidence against the company.

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