'Luna' Kwon Do-hyung, Rumored to Live in Luxury Apartment in Singapore... "Korean Children's Songs Heard Inside"

Terraform Labs Employee: "White Man Found at CEO Kwon's Residence Is a Founding Member"
CEO Kwon's Father Also Mentioned, "My Son Lives in Singapore with Family"
Prosecutors Begin Estimating Luna Incident Losses... May Launch 'Forced Investigation'

Kwon Do-hyung, CEO of Terraform Labs. Photo by Yahoo Finance YouTube video capture, Yonhap News Agency

[Asia Economy Intern Reporter Kim Se-eun] It has recently been suggested that Kwon Do-hyung, CEO of Terraform Labs, who has been embroiled in a 'Muk-twi' controversy, may be living in a luxury apartment in Singapore.

CEO Kwon was sued on fraud charges after the prices of cryptocurrencies Luna (LUNC) and TerraUSD (UST) plummeted, but his whereabouts remain unknown. In response to the so-called 'Muk-twi' controversy, CEO Kwon clarified the suspicion through social media, stating, "I have been residing in Singapore since December last year."

However, he could not be found even in Singapore. On the 24th, SBS reporters visited the registered residence in the Nassim area of Singapore, but another Caucasian man was living there. The man said, "There is no such person (CEO Kwon)."

However, in the SBS program "Unanswered Questions" aired on the 11th, former Terraform Labs employee Kang Hyung-seok revealed that the man was Nicholas Platias, CEO Kwon's roommate and a founding member of Terraform Labs.

Although the house is occupied by a Caucasian man, inside, the sound of a baby crying as well as Korean children's songs could be heard. Adding to this, CEO Kwon's father recently mentioned, "My son is living in Singapore with his wife and child," lending more weight to the claim that CEO Kwon is staying in Singapore.

Meanwhile, Kang stated that CEO Kwon already owned about 1.5 trillion won before the coin listing and claimed, "Terra and Luna had problems from the start."

CEO Kwon's actions are referred to as 'pre-mining,' where coins are pre-issued and distributed to early investors as a way to maintain the community and compensate developers. However, Terraform Labs did not disclose the pre-issuance, leading to controversy that ordinary investors were deceived.

At the time, Terraform Labs emphasized that it was "for the Terra ecosystem," but the specific use of the pre-issued coins remains unclear.

Accordingly, the Joint Investigation Team for Financial and Securities Crimes at the Seoul Southern District Prosecutors' Office has begun accurately calculating the damage scale related to the Luna incident. In particular, the prosecution is reviewing whether fraud charges can be applied in cases where investors suffered losses after purchasing Luna coins on exchanges.

Since obtaining related materials from Terraform Labs is a prerequisite for calculating the damage amount, there is a possibility of a compulsory investigation by the prosecution.

However, since Terraform Labs' domestic corporation has already been dissolved and CEO Kwon's residence overseas has become a fait accompli, it is expected that the compulsory investigation will not proceed smoothly.

This content was produced with the assistance of AI translation services.