Terraform Labs is reportedly contacting South Korean exchanges to relist Luna 2.0
After heavy damage caused by the now-failed LUNA/UST model to crypto investors worldwide, Terraform Labs CEO Do Kwon wants South Korean exchanges to relist Luna 2.0 when it gets issued.
Exchanges maintain a safe distance
As per a report by the local media outlet, Do Kwon, who was the subject of an investigation by the South Korean regulators, has contacted several crypto exchanges in the nation that support KRW trading in Korea. The global networking service Telegram has been used for the contact with the person identified to be an employee of the Terraform Labs in Singapore. The move comes about a week after the vote on Terra revival plan was submitted.As the South Korean financial and investigative authorities and the general public continuously target a tight and transparent investigation of the TerraUSD disaster, domestic exchanges, except for Upbit, seem to be making a safe distance from the company.
The organization has suggested "a path forward" for the 'LUNATICS' by creating a new blockchain without the UST stablecoin. Kwon wants to make LUNA token the new chain's cryptocurrency. He posted on Twitter that Terra is more than $UST.
The existing Terra blockchain and Luna will be named Terra Classic and Luna Classic, respectively, if it receives approval from validators. At the time of publication, the total voter turnout is around 81%, and 'agree' is overwhelmingly high at around 70%, signaling a high possibility of passing.
The cat and mouse chase
Do Kwon has come under fire from regulatory authorities following the multibillion-dollar collapse of the LUNA-UST model. Investors from South Korea have filed a lawsuit against him, and one even attempted to break into his home. According to the recent report, the whereabouts of the Terraform Labs head are still unknown.The inquiry of Terraform Labs has been assigned to South Korea's special investigative and prosecutorial team, dubbed The Grim Reapers. It intends to go after Terra Labs' co-founders, Do Kwon and Shin Hyun-Seong, and the rest of the Terra team.
Moreover, commenting on tax evasion news, Kwon said that it was gossip and attacked the South Korean authorities but then deleted the tweet.
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