Terra co-founder Do Kwon has hired a lawyer in preparation for his defense against South Korea’s legal actions, South Korea-based Naver reported Aug. 17. Kwon reportedly submitted an attorney’s appointment letter to the prosecutor’s office. The report did not reveal the lawyer’s name or the law firm.
The Seoul Southern District Prosecutors’ Office has been investigating several leads that led to the implosion of Terra’s ecosystem. The prosecutors recently raided crypto exchanges and homes of Terraform Labs executives. Kwon also said he would be completely honest with prosecutors and the courts by providing relevant facts about the crash. When asked about the possibility of jail, he said, “Life is long.”. South Korean police have introduced virtual currency seizure as a means of a fine collection. #web3grandpappa