Do Kwon denied the information published by the Korean media about the alleged tax debt of 100 billion won and other violations

In a rare appearance on Twitter since the incident, CEO Terraform Labs – Do Kwon gave his statement about the tax evasion allegations.

Do Kwon and the accusations of Terraform Labs tax evasion

As for the collapse of LUNA/UST, the Korean authorities were very interested and closely watched in the developments of this incident. Recently, the Korean National Assembly also asked Terraform Labs CEO Do Kwon to participate in the hearing to question the cause and propose a solution to this crisis.

Next, the Financial Services Commission and the Financial Supervisory Authority – two leading financial regulators in Korea re-established the “Death” task force to investigate how Terraform Labs attracted investors. private. Terraform Labs also faces a large fine for allegedly evading taxes up to 100 billion won ($78 million).

Before the accusation of tax evasion by a Twitter account named FatMan, Do Kwon affirmed that he did not evade taxes and he said that the Tax Department had conducted an audit of all crypto companies and they had paid taxes in full.

In addition, when asked if Terraform Labs would further support compensation for investors who suffered losses after the collapse of LUNA/UST, the answer was that their company had lost 30 billion dollars this year. That also means that there will be no additional support for this loss.

Voting for the plan to revive LUNA part 2 is still ongoing and will end on May 25, despite many users’ objections and accusations that Terra modified the proposed date in the vote.

This is also one of the rare times that Do Kwon spoke up after the LUNA incident, his twitter also received a lot of criticism from the public for his “negative reputation” since the token price plummeted.

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