The U.S. Securities and Exchange Commission (SEC) recently filed a document showing that the Prime Minister of Montenegro was one of the initial investors in the failed Terra Luna blockchain project, which reportedly lost millions of dollars after collapsing in 2022.
In 2018, for 75,000 months, Milojko Spajic invested $750,000 in the company as one of 81 initial 16 investors. At this price, he bought 750,000 LUNA tokens.
LUNA once rose to $199 each, but fell in 2022, meaning Spaich could potentially lose over $140 million due to the collapse. However, he may have sold some tokens before the collapse to protect himself from losses.
Interestingly, Spajic has never publicly discussed being a victim of the LUNA crash. In earlier statements, he mentioned a company he was associated with being defrauded of $75,000, but did not mention his personal investment.
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“Do Kwon is a fraudster who deceived me, my friends, and our company when he invested in this project in March 2018,” said Spajic.
Terraform Labs, responsible for the algorithmic stablecoin UST, caused losses of nearly $4 billion in the cryptocurrency market. This has led to legal trouble for Do Quon, co-founder of Terraform Labs, in Montenegro. He has been convicted of using a fake passport and is currently serving time in prison, awaiting extradition to South Korea or the United States.
The Minister of Montenegro is one of the first investors in bankrupt Terra 