Will you accept LUNA for shilling Terra as a simple payment method? A Korean e-commerce ex-CEO allegedly did.
that the head of the financial and securities joint investigation team at the Seoul Southern District Prosecutor’s Office requested an arrest warrant for bribery charges against the former Tmon CEO, described as “Mr. A,” and a person described as “broker B,” who worked on lobbying in the financial sector in favor of Terra.
Mr. A allegedly received LUNC tokens from Terra co-founder Shin Hyun-Seong, also known as Daniel Shin, who asked him to extensively promote Terra as a simple means of payment. After this, Tmon advertised LUNC and spread the message that the token is a safe asset. According to the investigators, the promotions increased the token’s price by raising investors’ expectations.
The former Tmon CEO has allegedly made billions of won after selling the LUNC tokens received in exchange for the promotions. In addition, the report also highlighted that despite warnings from financial authorities, Shin has reportedly given money to other companies like Tmon to promote LUNC as a safe payment method.
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