According to Korean local news site KBS news, the ongoing investigation for Terra’s crash has taken another turn as investigators have now linked a new crypto entity “Flexi” to Terra and Do Kwon.
Details of the corporation were not made public
Since the crash of TERRA/LUNA in April, investigation is carried out earnestly and it appears prosecutors and investigators are determined to find the root cause of the crash. Over the course of Terra (LUNA) investigations, several secrets have unfolded.
Alongside the Seoul Southern District Prosecutor’s Office’s Financial Crimes Unit, which is in charge of investigating Terra, the prosecution recently joined the investigation team as well as the Financial Investigation Department, therefore investigation has intensified.
According to KBS news, the team recently identified a still existing subsidiary of Terra in Korea called Flexa, with CEO Kwon Do-hyeong listed as the sole executive director, they confirmed that its existence was not declared, however “a suspicious flow of money through it was detected.”
The news report noted that there are rumours that Flexa deals in crypto rarely issued by cryptocurrency exchanges. A former developer of Terra was also said to have noted that Flexi Corporation’s cash inflow was an issue during a special tax investigation by the National Tax Service last year.
