It's time to uncover another one of Terra's dirty little secrets... A 'blockchain consultancy firm' they spun up in order to launder money and evade taxes. Let's have a look at company K. (1/8)
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Now, TFL is trying to furiously scrub away their link to Kernel Labs. On May 18th, mentions of Anchor/Mirror from Kernel's site were removed. In the T2 proposal, Do hastily removed the mention, despite implying that they were partnered in the creation/maintenance of Terra. (7/8)pic.twitter.com/NfQX11qAZ8
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If you remember the Chai thread, you'll know Terra is no stranger to routing money through shell businesses to evade taxes, regulations, and public scrutiny. We're learning more every hour thanks to some amazing Korean volunteers who verify and translate sources for me. (8/8)
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PS. To any Koreans out there who are interested in some light reading, that last news site has a link to Terra's original patent (filed by Kernel Labs) written by Do Kwon and Nick Platias. I'll give it a read once the translation is complete and will share interesting findings.pic.twitter.com/GKep7rQqm0
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Update: Korean tax officials have released a statement confirming my initial deduction that Kernel Labs is being used for laundering/evasion - they disclosed that they fined TFL for tax evasion last year due to suspicious transactions with Kernel Labs.
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