Korea Prosecutor Issues Do Kwon "Notification Upon Entry" Notice

Jul 27,2022
KingData News: Korean prosecutors have issued Do Kwon "Notification on Entry" notices on fraud charges related to the Terra and Luna crashes, as well as no-go notices for current and former executives, including Terraform Labs co-founder Shin Hyun-seong and former Vice President Kim Mo.
This indicator provides follow-up on the depg of Terra's stablecoin UST on May 8th. Terra's stablecoin UST briefly lost its peg to the U.S. dollar on May 8th, dipping as low as $0.985. The depeg event came after a series of multi-million dollar UST selloffs as one account traded about $85 million worth of UST for USDC on Curve Finance, while another user reportedly sold $108 million worth on Binance. UST posted a slight recovery shortly after Terraform Labs CEO Do Kwon posted a tweet calling out the stablecoin's critics.