A LEGAL DOCUMENTS COULD PROVIDE GREATER CONTEXT FOR THE INFAMOUS LUNA AND UST PRICE
The shocking news of the Terra (LUNA) crash - dubbed the Lehman Brothers of crypto - has taken another dramatic turn as legal documents reveal the demolition of two South Korean offices and the dissolution of Terraform Labs Korea Corporation in the days leading up to the double collapse.
Earlier, according to a report by South Korea's Digital Today news agency, information obtained from the country's Supreme Court Registration Office points out that Do Kwon had successfully promoted the liquidation of the two branches and the company as a whole.
Both the Busan headquarters and Seoul offices were scheduled to be dissolved during a general shareholders' meeting on April 30, with their deaths on May 4 and May 6, respectively.
The timing of these decisions has raised suspicions among the crypto community due to its possible links to events involving the liquidation of Terra (LUNA) and UST stablecoin during the first hours of May 10.
Terra is currently in the process of implementing a renewal plan based on the second amendment to the 1623 Rule Proposal. If approved, it will release three updates to the current system: increase genesis liquidity from 15% to 30% to "reduce future inflation. Pressures," apply the new liquidity profile of LUNA management before attack and reduce money to those in charge of UST after the attack.
In a proposal paper, Kwon wrote that "$ UST anchor failure is Terra's DAO's hacking time - an opportunity to rise from the ashes," with a network launch scheduled for May 27.