The dramatic story of the Terra () crash — referred to by some as the Lehman Brothers of crypto — has taken yet another remarkable turn as legal documents reveal the liquidation of two South Korean offices and the dissolution of the Terraform Labs Korea corporation in the days preceding the dual currency collapse.
Initially reported by South Korean news outlet Digital Today, the information obtained from the country’s Supreme Court Registry Office highlight that Do Kwon successfully instigated the liquidation of two branches and an entire company.
Both the Busan headquarters and Seoul offices were agreed to be dissolved during a general shareholders meeting on April 30, with their demise being actioned on May 4 and May 6, respectively.
The timing of these decisions has raised suspicions within the crypto community due to their potential correlation to the events of the Terra () and UST stablecoin financial in the early hours of May 10.
This is a developing story that will be updated in due course.