Summary:
- A South Korean congressional hearing on the LUNA crash called Simon Seojoon Kim as a witness.
- Kim who is the CEO of Venture Capital firm Hashed failed to appear for the inquiry.
- The Hashed CEO whose company backed LUNA’s ecosystem said he developed “anxiety disorders” and “panic attacks” since LUNA collapsed in May 2022.
- South Korea’s Political Affairs Committee also called other witnesses including Terraform Labs co-founder Daniel Shin and executives from crypto exchange Bithumb Korea.
- Do Kwon remains at large and his whereabouts are unknown by law enforcement agencies across the globe.
Hashed CEO Simon Seojoon Kim did not appear before a South Korean congressional inquiry into the LUNA crash, citing mental conditions that he supposedly developed since Terra’s $40 billion wipeout in May 2022.
Kim’s letter of non-appearance fielded a so-called expert diagnosis for “anxiety disorders” and “panic attacks”, local news media E Daily reported.
I have been suffering from anxiety disorders and panic disorders due to extreme mental stress since the Luna-Tera crash. I have been receiving psychiatric treatment from another hospital since July 29, and the stressful situation has worsened dramatically during medication and counseling treatment, and the symptoms are worsening.
Under Kim’s leadership, venture fund Hashed bought 30 million LUNA as an early backer of Terra’s ecosystem. Hashed lost north of $3.5 billion in capital and profits following Terra’s collapse.
South Korean Prosecutors Pursue Terra Case
The Political Affairs Committee called several witnesses to appear before congress. South Korean authorities launched investigations into Terra’s collapse and the roles crypto company executives played in the ecosystem’s failure.
Terraform Labs co-founder Daniel Shin was also called as a witness. Authorities raided Shin’s property along with the offices of several cryptocurrency exchanges. A former Bithumb chairperson failed to appear before congress, citing similar mental conditions claimed by Kim.
At press time, Terraform Labs CEO Do Kwon remains a wanted man by South Korean prosecutors and Interpol. Kwon did not disclose his whereabouts during his last interview with Laura Shin.
Source surmised that Kwon fled to Dubai before going off the radar. Notably, Kwon maintains an active Twitter account.