Recently, a declaration from the US Securities and Exchange Commission (SEC) revealed that the Prime Minister of Montenegro was among the first investors in the failed blockchain project Terra Luna, allegedly losing millions after the collapse in 2022.
In April 2018, Milojko Spaich invested $75,000 in the company as one of the 16 out of the first 81 investors. At that price, he bought 750,000 LUNA tokens.
LUNA once rose to $199 per coin, but in 2022 it plummeted, meaning Spaich may have lost over $140 million due to the collapse. However, he may have sold some of his tokens before the crash, thus protecting himself from losses.
What’s interesting here is that Spaich has never publicly spoken about being a victim of the LUNA crash. In earlier statements, he mentioned that the company he was associated with was defrauded of $75,000, without mentioning anything about his personal investment.
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“Dou Quon is a scammer who scammed me and my friends along with our company while we were investing in this project in January 2018,” said Spaich.
Terraform Labs, responsible for the algorithmic stablecoin UST, wiped nearly $40 billion from the crypto markets. This adds another layer to Dou Quon’s legal troubles in Montenegro regarding his co-founding of Terraform Labs. Quon is currently in prison after being convicted of using fake passports and is awaiting extradition to South Korea or the US.
