Korean authorities reportedly have proof of Kwon’s LUNA price manipulations

Korean prosecutors person obtained impervious that Do Kwon purposely manipulated Terra’s (LUNA) marketplace price, arsenic announced by crypto influencer @FatManTerra.

Citing the section quality sources, FatManTerra said the prosecutors obtained a backstage speech betwixt Kwon and 1 of his employees, wherever Kwon ordered LUNA’s marketplace terms to beryllium manipulated.

Even though prosecutors didn’t disclose further details, a spokesperson from the prosecutor’s bureau said:

“I can’t uncover the details, but it was a speech past wherever CEO Kwon specifically ordered terms manipulation.”

They besides recovered that Kwon was presently residing successful Europe. This besides means that Kwon is an amerciable migrant determination since the Korean authorities invalidated his passport successful precocious October.

Latest updates to the case

In October, Korean officials located and arrested Terraform Labs‘ Head of General Affairs, Yoo Mo, for deceiving the assemblage by faking marketplace data. Mo’s apprehension warrant was issued connected Oct. 5, and helium got arrested connected Oct. 6. Considering his adjacent narration with Kwon, Korean officials considered him a cardinal histrion successful the Terra-Luna investigation.

However, Mo’s apprehension didn’t past longer than 24 hours, arsenic a Korean District Court dismissed Mo’s apprehension warrant connected Oct. 6. The Judge concluded that Mo mightiness not person violated the Capital Market Act by manipulating the LUNA terms since Korean instrumentality did not classify the LUNA token arsenic a security.

Korean prosecutors didn’t disclose whether Kwon was talking to Mo successful the backstage speech obtained connected Nov. 3.

Kwon repeats the Judge

Do Kwon was interviewed connected Oct. 18, wherever helium repeated the Judge’s determination connected Mo’s apprehension warrant. Kwon said that the fraud charges against him are extracurricular the scope of Korea’s Capital Markets Act and truthful are invalid.

Kwon said:

“The accordant stance from Korean governments has been, and adjacent from the Financial Services Commission directly, that cryptocurrencies are not securities… And it is not wrong the ambit of their jurisdiction to modulate cryptocurrency for that reason.”

The station Korean authorities reportedly person impervious of Kwon’s LUNA terms manipulations appeared archetypal connected CryptoSlate.