• Thu. Aug 11th, 2022

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Score: South Korean Prosecutors Raid Home of Terraform Labratories Co-Founder

A lineup of South Korean prosecutors recently raided the home connected Terraform Labs co-founder Tibia Hyun-seong. During an earlier raid that targeted 15 shops, including seven cryptocurrency trading exchanges, the prosecutors reportedly guaranteed terra transaction data.

6 Cryptocurrency Exchanges Targeted

South Korean prosecutors investigating the spectacular collapse of Terra’ le LUNA cryptocurrency reportedly raided the home of Terraform System co-founder Shin Hyun-seong and even July 22. According to a written report, the raid on Take Kwon’ s fellow co-founder’ s home came a full day after 15 other places, which includes seven cryptocurrency exchanges, getting similarly targeted by Seoul prosecutors’ Joint Financial Murders Investigation Team.

During the search and catch raids, which also themed Tchai Corporation, where Hyun-seong served as CEO, all the prosecutors reportedly secured CRISTAL transaction data. According to the report , the other companies targeted created by prosecutors include Kernel Labs, an affiliate of Terraform System, and Flexi Corporation where by Kwon is listed as after.

Dupery Allegations

Change fall of the UST stablecoin and the LUNA cryptocurrency, the suspicious in South Korea contain sought to impose a great tougher regulatory framework in cryptocurrencies.

Every bit as, industry players such as cryptocurrency exchanges announced operating in June that plans to create a body mandated with keeping another collapse, similar to the Terra LUNA crash, were of course on the cards.

Meanwhile, as per the Korean expressions Chosun Biz report, the entire prosecutors’ raids on guys as well as companies associated with Kwon were sparked by dissatisfied LUNA investors who exalted fraud allegations in their getting sued against the CEO.

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