Do Kwon Rejects the Relevance of Slack Chat Records as Inconsequential Evidence

Do Kwon

Do Kwon, co-founder of Terraform Labs, disputes the significance of exposed Slack messages used as evidence by the SEC. The messages reveal discussions with co-founder Daniel Shin about manipulating transactions to attract investors to Chai Corporation, a Seoul-based payments provider they founded.

The SEC included the Slack conversation from September 2019 in a recent filing, indicating active brainstorming on tactics to boost investor interest. Kwon suggested creating fake transactions to appear real, generating fees that could be phased out as Chai grows. He sought confidentiality from Shin, stating it would be challenging for investors to uncover the manipulation.

terra's do kwon
Do Kwon dismisses Slack chat records as irrelevant evidence

Kwon denies the evidence, claiming it’s out of context. His legal team argues that discussions were about staking LUNA tokens with validators, not creating fake Chai transactions. They accuse the SEC of misrepresenting evidence to prejudice Kwon.

In response to the SEC’s extradition request over the Terra ecosystem collapse, Kwon’s lawyers deem it “impossible” due to his detention in Montenegro with no release date, following a conviction for passport fraud.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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