The dramatic story from the Terra (LUNA) crash — known by a few because the Lehman Siblings of crypto — has had yet another remarkable turn as legal documents reveal the liquidation of two South Korean offices and also the dissolution from the Terraform Labs Korea corporation dads and moms preceding the dual currency collapse.
Initially as reported by South Korean news outlet Digital Today, the data acquired in the country’s Top Court Registry Office highlight which do Kwon effectively instigated the liquidation of two branches as well as an entire company.
Both Busan headquarters and Seoul offices were decided to be dissolved throughout a general shareholders meeting on April 30, using their demise being actioned on May 4 and could 6, correspondingly.
The timing of those decisions has elevated accusations inside the crypto community because of their potential correlation towards the occasions from the Terra (LUNA) and UST stablecoin financial obliteration in early hrs of May 10.
1/ We’ve printed an amendment to Proposal 1623, incorporating the community’s feedback since its publication a couple of days ago. Please visit below for details https://t.co/liISBn3Baa
— Terra Operated by LUNA (@terra_money) May 20, 2022
Terra are presently while actioning a revival plan based on the 2nd amendment from the governance Proposal 1623. If approved, it’ll enact three revisions to the present system: boost the genesis liquidity from 15% to 30% to “mitigate future inflationary pressures”, implement a singular liquidity profile for pre-attack $LUNA holders, and reduce funds to publish-attack $UST holders.
Within the proposition paper, Kwon authored that “$UST peg failure is Terra’s DAO hack moment – an opportunity to rise once again in the ashes”, having a network launch slated for t May 27.