Do Kwon dissolved the entity that owned LUNA just before it Crashed

Terraform Labs’ founder, Do Kwon, is back in the spotlight. Terraform Labs’ creator, according to stolen documents circulating on the Internet, shut down the company just days before its native coin, Terra Luna, plummeted.

Terraform Labs, located in South Korea, chose to dissolve itself at its general shareholders’ meeting on April 30, according to information acquired by DigitalToday from official documents.

The Busan branch was liquidated on May 4 and the Seoul branch on May 5, according to official records, with the liquidator being Kwon Do-Hyeong, the real name of Terraform Labs’ CEO Do Kwon.

Do Kwon, the founder of Terraform Labs, recently had his proposal to hard fork the Terra blockchain rejected after early voting rounds.

During the de-pegging situation concerning TerraUSD, Terraform Labs’ stablecoin, Terra Luna, Terraform Labs’ volatile cryptocurrency, has fallen.

LUNA, Terra UST, and Do Kwon’s Fall

When TerraUST and LUNA went below $0.01, the cryptocurrency market was given a fresh perspective. Things that used to be considered “stable” no longer appear to be so. Financial professionals from the traditional stock market are slamming the bitcoin sector. They believe Bitcoin, like Luna, will suffer a similar destiny in the future.

Was everything planned?

Because the company was dissolved, it’s difficult to determine for sure, but it does put us on the right course. In most cases, the simplest answer is the best one.

Bitcoins have also been taken from exchanges and used as reserves, according to reports. There was no word on what happened to the money or how much it helped keep the coin steady.