The recent 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 crash in 2022.
In April 2018, Milo Đukanović 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 fell, meaning Đukanović may have lost over $140 million due to the crash. However, he may have sold some of his tokens before the collapse, thereby protecting himself from losses.
Interestingly, Đukanović never publicly mentioned being a victim of the LUNA crash. In earlier statements, he mentioned that the company he was associated with had been defrauded of $75,000, without mentioning anything about his personal investment.
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“Dou Quan is a scammer who scammed me and my friends along with our company while we were investing in this project in January 2018,” said Đukanović.
Terraform Labs, responsible for the algorithmic stablecoin UST, wiped out nearly $40 billion from the crypto markets. This adds an additional layer to Dou Quan’s legal troubles in Montenegro regarding his co-founding of Terraform Labs. Quan is currently in prison after being convicted of using fake passports and is awaiting extradition to South Korea or the US.
