2 years ago
As portion of the probe into the illness of Terra successful May, South Korean prosecutors raided 7 section crypto exchanges connected July 20, according to a report by Yonhap News Agency.
The study said that investigators from the Seoul Southern District Prosecutors Office seized transaction records and different materials from Upbit, Bithumb, Coinone, and 4 different exchanges. Upbit, Bithumb, and Coinone are South Korea’s largest exchanges.
The investigators besides raided 8 different locations, including residences and offices of radical progressive successful the case, the study said.
The investigating squad volition analyse the seized worldly and question witnesses to find the size of the damage, and whether Kwon intentionally caused the illness of Terra, the study stated. In June, the investigators secured Kwon’s records from the taxation section to analyse taxation evasion allegations.
Terra investors filed a ailment against Kwon and Terraform Labs’ co-founder Daniel Shin aft the firm’s stablecoin TerraUSD (USTC), and Luna (LUNC) collapsed successful May. The investors accused the co-founders of perpetrating fraud, which led to the nonaccomplishment of billions of dollars.
According to the country’s Financial Services Commission, an estimated 280,000 Korean investors were affected by the Terra collapse.
The station South Korean investigators raid 7 section exchanges successful Terra probe appeared archetypal connected CryptoSlate.
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