Terra Drama Continues as Authority Raid Links Exchange Collapse
Categories: Crypto News US
Terra Drama Continues as Authority Raid Links Exchange Collapse
Raids on 'at least' 15 exchanges
- The Joint Financial and Securities Crime Investigation Team of the Seoul Southern District Prosecutor's Office raided the offices of at least 15 entities, including Bithumb, Upbit, Coinone and Korbit.
- If TerraForm Labs CEO Do Kwon or any other executive is found guilty of Terra's meltdown, prosecutors are confiscating all material that could serve as evidence.
- A month ago, it was claimed on Twitter that Do Kwon had cashed out more than US$80 million in a month prior to the Luna collapse, causing a domino effect on the stablecoin market.
- Soon after, Korean authorities launched a full-scale investigation targeting employees of TerraForm Labs.
- The company's employees, who have been banned from leaving the country, were called by prosecutors to testify about their involvement in the project.