Do Kwon, CEO of Terraform Labs, said today on Twitter that contrary to reports, his company has no tax liabilities in South Korea.
Terraform Labs is the core development team working on the Terra blockchain whose native assets, LUNA and UST stablecoin, recently collapsed after a bank run that wiped out billions of dollars of value.
A recent media report suggested that authorities in Korea were investigating Kwon and Terraform Labs in more than $78 million in unpaid corporate taxes.