In Lieu of an Official Investigation, Terra Witness Claims Panic Disorder and Extreme Amounts of Stress

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Based on a local news report on October 24, the Hashed CEO and a pioneer investor in the Terra ecosystem, Kim Seo-joon, did not appear as a witness at a session of the Korean National Assembly’s Political Affairs Committee.

Six witnesses, including Seo-joon, were called in order to better understand the events that led to the $40 billion crash of Terra in May of 2022.

“After the Luna-Terra incident, I was under extreme stress, and my health deteriorated and I needed to stabilize,” said Seo-joon, whereby the statement also cited panic disorder and anxiety as crucial factors in the health of the witness. 

A medical certification that he has been undergoing mental therapy since July 29 and that he is in severe need of mental stability at this point, was appended. The certification also said that the medication and therapy regimen has put him under further stress.

Among the witnesses chosen back in March by the Political Affairs Committee were also  Lee Jung-hoon, the former Chairman of Bithumb Korea, along with Shin Hyun-sung, the director of Chai Holdco, among others. 

In addition, Lee Jung-hoon provided an explanation for his absence from the meeting of the National Assembly in early June in a statement that he delivered. The previous Bithumb CEO claimed he no longer had any involvement in the company’s operations and claimed panic disorder as the cause.

In light of USDT’s failure, Terraform Labs has come under increasing pressure. When news broke in September that the passport of Do Kwon had been revoked by the Ministry of Finance due to alleged violations of capital market regulations, Kwon promptly reassured followers that he was not running away.

Do Kwon received a red notice from the international police organization Interpol in September, despite the fact that his name has not yet been included in the list of 7,135 people who have received red notices.

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