former TMON CEO arrested for corruption involving cryptocurrency Terra payment

02/15/2023 08:00 • Crypto & Markets • 119 views

On February 15, the South Korean prosecutor investigating the Terra/Luna crash arrested Mr. A, the former CEO of the country’s e-commerce giant TMON, for accepting commissions and accepting billions of won of bribes during the introduction of the cryptocurrency Terra payment on the TMON platform. B, who played an intermediary role in the process, was also arrested. The substantive review of their arrest warrant will be held on February 16.

The former CEO of e-commerce giant TMON was arrested on suspicion of being bribed during the introduction of Terra payment on the platform

Interpretation of the news:

On February 15th, it was revealed that Mr. A, former CEO of TMON in South Korea, has been arrested by the South Korean prosecutor investigating the Terra/Luna crash. Mr. A is being investigated for accepting commissions and accepting billions of won of bribes during the introduction of the cryptocurrency Terra payment on the TMON platform. This is a clear example of corruption that could not only have an impact on the companies involved but also the cryptocurrency market as a whole.

The Terra/Luna crash is a significant event that occurred in the cryptocurrency market in November 2020. The price of Terra and Luna dropped drastically, leaving many investors confused and frustrated. It was later revealed that the crash was due to a liquidity issue that the creators of Terra and Luna were facing, and the crash was not caused by external factors such as a hack or attack. The investigation into the crash is still ongoing, and the recent arrest of Mr. A is a significant development in the case.

TMON is a popular e-commerce platform in South Korea that integrated the cryptocurrency Terra payment into its platform. Mr. A was the CEO of TMON during the time the integration took place, and he is now being investigated for corruption related to this integration. B, who played an intermediary role in the process, was also arrested alongside Mr. A.

The allegations against Mr. A and B, if proven to be true, could have far-reaching implications for the cryptocurrency market. Cryptocurrencies have been infamous for their lack of regulation, leaving them open to scams and corruption. If people in positions of power, such as CEOs of large companies, are found to be engaging in corruption related to cryptocurrencies, it could lead to a significant loss of confidence in the market. Investors may become hesitant to invest in cryptocurrencies, believing that they are not safe or reliable.

In conclusion, the arrest of Mr. A, the former CEO of TMON, and B, the intermediary, for corruption related to cryptocurrency Terra payment is concerning, and it could shake the confidence of investors in the cryptocurrency market. Investigations into the Terra/Luna crash are ongoing, and it remains to be seen if other individuals or companies will be implicated or if the situation will lead to changes in the regulations surrounding cryptocurrencies.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/577.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.