Hashed CEO Skips Parliamentary Inquiry

• The CEO of the VC firm was called as a witness for the inquiry 
• LUNA Price at the time of writing – $2.46
• The prosecutors in South Korea had ordered Kwon to surrender

Kim Seo-Joon, the CEO of Hashed and an early supporter of the failed LUNC token, did not appear before a South Korean congressional inquiry into the crash.

He claimed that his absence from the Political Affairs Committee of the South Korean National Assembly was due to “mental conditions,” which he said he had developed since the shocking loss of $40 billion in May 2022.

Kim Seo-Joon Didn’t Show Up to the Hearing 

According to a recent report, the executive said that since the collapse of Terra Classic and the de-pegging of its algorithmic stablecoin, he had been “under extreme stress.” He also said that his health had gotten worse and that he needed “stability.

An expert opinion and a medical certificate stating that the executive has been receiving psychiatric treatment from another hospital since July 29 were included in the letter that was sent to the National Assembly.

Additionally, it was made clear that his stress has grown “dramatically” as a result of his medication and counseling treatment. In addition to Dunamu CEO Lee Seok-woo, Chai Holdco Director Shin Hyun-sung, and Terraform Labs co-founder Daniel Shin, Seo-Joon was chosen by the South Korean parliament as one of the six witnesses to participate in the comprehensive audit.

The head of the venture capital firm is well-known for preaching about cryptocurrency and investing in startups like The Sandbox and Sky Mavis, the creator of the Axie Infinity game.

The implosion of Terra ecosystem tokens dealt Hashed a significant blow.

In the early stages of the project, the executive reportedly purchased 30 million LUNC tokens, but the crash cost the majority of the investment. 

South Korean newspapers claimed that Seo-Joon had hyped the token of the fallen protocol and had sold some of his holdings just before the fall, in addition to the monetary losses.

Lee Jung-hoon of Bithumb did not attend the parliamentary hearing earlier this month, in addition to Seo-Joon. He didn’t show up because he had a panic disorder.

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Mystery Over Kwon’s Residence

Despite receiving a red notice from Interpol, the CEO and co-founder of Terraform Labs (TFL), Do Kwon, was not asked to attend the investigation. Kwon had been instructed by South Korean prosecutors to surrender his passport or risk having it revoked.

However, Kwon recently stated in an interview that he has not received a copy of the notice from Interpol. The media have also paid close attention to his house.

After fleeing Singapore, many thought he was living in Dubai. Prosecutors in South Korea also confirmed that the report that Kwon left Singapore and flew to Dubai, most likely as a stopover on his way to unknown destinations, was not false.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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