Key witness referred to as to testify at Terra parliamentary inquiry is a no-show

Deal Score0
Deal Score0

The CEO of enterprise capital agency Hashed and early Terra (LUNC) investor Kim Search engine marketing-joon has cited “excessive stress” following the Terra crash as the explanation for his no-show at South Korea’s Nationwide Meeting’s Political Affairs Committee.

Search engine marketing-joon was one in every of six folks chosen to participate within the South Korean parliament’s newest inquiry to higher perceive the occasions that led to the notorious $40 billion wipe out of Terra’s cryptocurrencies, based on an Oct. 24 article from the Korea Financial Day by day.

In line with a letter from Search engine marketing-joon, he suffered extreme psychological hurt from the next the sudden collapse of LUNC and the de-pegging of its related algorithmic stablecoin TerraClassicUSD (USTC), writing:

“Because the Luna-Terra crash occurred, I’ve been affected by anxiousness dysfunction and panic dysfunction attributable to excessive psychological stress.”

Along with the letter submitted to the Nationwide Meeting, Search engine marketing-joon connected an knowledgeable opinion and medical certificates which acknowledged that he’d been hospitalized and acquired psychiatrist therapy since Jul. 29.

Medicine and counseling therapy have been additionally stated to have worsened Search engine marketing-joon’s anxiousness, who’s “in absolute want of emotional stability right now,” based on the knowledgeable opinion.

Just a few months after the notorious LUNC collapse, Search engine marketing-joon disclosed that Hashed had suffered a $3.6 billion loss from its peak worth in late April, having owned 30 million LUNC tokens, based on an August interview with Bloomberg.

Earlier this month, the chairman of the South Korean trade Bithumb, Lee Jung-hoon additionally did not attend the parliamentary listening to on Oct. 6, citing a panic dysfunction as the explanation for his no-show.

Associated: South Korean authorities raid 15 entities linked to Terra collapse

Different witnesses referred to as in numerous levels of the inquiry embody Bithumb main shareholder Kang Jong-hyun, CEO of Dunamu which runs South Korea’s largest crypto trade UpBit Lee Seok-woo, Chai Holdco Director Shin Hyun-sung, and Terraform Labs co-founder Daniel Shin.

Terra CEO and co-founder Do Kwon was not listed to be inquired by Korea’s Political Affairs Committee — as law enforcement units throughout the globe continue to try track his whereabouts.