On June 17th, according to a report from Yonhap News Agency, there is evidence to suggest that Terraform Labs founder Do Kwon and Chai CEO Daniel Shin planned to deceive Terra investors from the beginning of Terraform Labs. Conversation records between Kwon and Shin show that Kwon told Shin he could generate fake transactions that looked real. In response, Shin said, "Let's experiment on a small scale first and see how it goes." These conversation records have been submitted as evidence to the court by the prosecutor's office in the country.
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South Korean court receives new evidence that Do Kwon intended to deceive investors with fake transactions
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