Hashed CEO Cites Mental Stress as Reason for Missing National Assembly Meeting in Terra Investigation

Kim Seo-Joon, head of South Korean venture capital (VC) firm Hashed, who was selected to join the National Assembly Political Affairs Committee to investigate the collapse of the Terra (LUNA) blockchain, cited extreme mental illness as the reason for his absence in the meeting. 

Hashed CEO Suffers Anxiety Disorder 

As part of its efforts to understand the events leading to the Terra LUNA collapse, the South Korean parliament selected a group of people as witnesses, including Shin Hyun-Seong, general manager of Tchaiholdco, and Lee Jung-hoon, former chairman of Bithumb Korea, to be part of the comprehensive audit. 

According to local media, Seo-Joon presented a letter of reason for non-appearance, indicating that he was severely damaged after the catastrophic failure of the crypto project.

“I have been suffering from anxiety disorders and panic disorders due to extreme mental stress since the Luna-Tera crash. I have been receiving psychiatric treatment from another hospital since July 29, and the stress situation has worsened dramatically during medication and counseling treatment. The symptoms are worsening,” the Hashed CEO said. 

Meanwhile, Seo-Joon was not the only witness who could not appear for the audit. 

 In a separate meeting held on October 6, former chairman Lee Jung-hoon was not in attendance. However, he sent a letter of non-appearance, citing “panic disorder” as the reason for not attending the National Inspection Meeting. He also pointed out that he was not involved in Bitthump management. 

Hashed Loses $3.6 Billion In Terra Crash 

A few months after the Terra incident, Seo-Joon disclosed that the company suffered massive losses in the crash, which caused adverse chain reactions in the industry. 

The CEO told Bloomberg that Hashed bought 30 million LUNA coins, now LUNA Classic, as an early investor in the ecosystem. 

The company held 99% of the investment worth around $3.6 billion at its peak in April through its collapse in May. 

Meanwhile, South Korean authorities have issued an arrest warrant for Do Kwon, the founder, and CEO of the beleaguered crypto project. However, the controversial CEO said last week that he is yet to see the warrant.