TechFlow news — The latest allegations indicate that Kernel Labs, a sister company of Terraform Labs, received 6 billion South Korean won (approximately $4.8 million) from Terraform Labs. While this could be a perfectly normal transaction for consulting services, Do Kwon’s recent actions to sever all ties with Kernel Labs have raised suspicions about the deal.
Additionally, evidence suggests that patents applied for by Do Kwon are linked to Kernel Labs. KBS reported that Do Kwon may have used Kernel Labs, a South Korean shell company, to launder money.
Previously, it was reported that the Financial and Securities Crime Joint Investigation Unit of the Seoul Southern District Prosecutors’ Office recently summoned all employees of Terraform Labs, the developer of Luna and Terra, for investigation and obtained relevant materials. It is understood that these employees participated in the initial development of Luna and Terra in 2019. These latest allegations are part of that ongoing investigation.
