Two offices and the Terraform Labs corporation in Korea were dissolved by Do Kwon before the collapse.
Hello everyone...
Certainly the Terraform Labs case leaves many questions in the air, mostly because of the large number of people affected who lost everything due to the fall in the price of the UST and LUNA token. So far it is known that it was a coordinated attack (according to Do Kwon) on the terra network with the intention of destabilizing it. That is why Do K has created a plan to launch a v2 network as a viable solution to the LUNA and UST problem.
But lately certain things have come up that cast doubt on Do Kwon's claim that it was all an attack, and rather that it was all devised for a specific purpose. For example while reading comments on @leomarkettalk, I came across a very interesting comment from @rtonline, where he refers to an article that said that Pantera Capital, one of the main backers of Terraform Labs, liquidated about 80% of its LUNA trends just before the whole price dropped.
And legal documents reveal the liquidation of two South Korean offices and the dissolution of the Terraform Labs Korea corporation in the days leading up to the collapse of the Terra network's native token price. Both the Busan and Seoul headquarters were dissolved on May 4 and May 6. This information, obtained from the country's Supreme Court Registry Office, highlights that Do Kwon managed to instigate the liquidation of two subsidiaries and an entire company in the days leading up to the collapse.
So the idea of a coordinated attack of malicious intent on terra has no real logical basis. What it really looks like is a RugPull of titanic proportions, since if we look at what went up in smoke we will see that it is very similar to other Rugpull cases such as Ironfinance, CryptoMines, VikingSwap, among others.
This is where one can draw a conclusion and wonder if it was really an external attack or was it all due to bad management and very bad decisions on the part of the developers?
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