One Terra employee made $100m with $1.4k investment. Korea investigates company-wide scam.
<!-- SC_OFF --><div class="md"><p>Google translation (source <a href="https://youtu.be/1LcFX9hjU2Y">https://youtu.be/1LcFX9hjU2Y</a>)</p> <p>Kwon Do-hyung, who created the cryptocurrency Terra Luna, reported that there was a situation where he directly ordered the price manipulation, citing the prosecution&#39;s investigation yesterday. In addition to CEO Kwon, the prosecution has caught a situation in which &#39;plain employees&#39; who worked at Terra have made astronomical profits through illegal investments. Prosecutors said that some employees earned 140 billion won by investing 2 million won. This is the exclusive coverage of reporter Lee Do-yoon. [Report] In July 2019, Luna Coin was opened to general investors and entered into trading. Subsequently, &#39;Terra-related&#39; coins such as Mirror Token at the end of 2020 and Anchor Token in the following year appeared on the market one after another. However, Terra sold these tokens to employees and investors right before the launch. It&#39;s similar to how employees buy &#39;our stocks&#39; in advance before the company goes public. An employee who worked at this time said, &quot;Tera sold various tokens to employees at half price.&quot; The pre-purchase was a real &#39;jackpot&#39;. This is because the related tokens also skyrocketed as Luna rose about 100 times in two and a half years after its release. Terra employees who bought tokens at a low price were sitting on a cushion of money. It was found that some employees realized profits of 140 billion won by investing only 2 million won. 70,000 times the principal. In terms of return, that&#39;s 7 million%. With this proceeds, some employees have also confirmed that they have bought luxury imported cars such as Lamborghini and expensive apartments. Prosecutors believe that several employees who worked as blockchain developers and design managers have achieved such astronomical profits, and are investigating the illegality of the process. It is not a normal investment performance, but it is possible that it was an &#39;organizational fraud&#39; of the executives and employees, including CEO Kwon Do-hyung. Prosecutors believe that they made profits by raising the price as much as possible before disposing of Terra-related coins, and ordinary investors who did not know this suffered losses. Therefore, the prosecution is examining the preservation of additional collections before prosecution by identifying those suspected as &#39;criminal proceeds&#39; among the assets earned by the employees.</p> </div><!-- SC_ON --> &#32; submitted by &#32; <a href="https://www.reddit.com/user/wildup"> /u/wildup </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yoodoy/one_terra_employee_made_100m_with_14k_investment/">[link]</a></span> &#32; <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yoodoy/one_terra_employee_made_100m_with_14k_investment/">[comments]</a></span>
