South Korean authorities have confiscated property price hundreds of thousands of {dollars} from the workers of the blockchain agency Terraform Labs, in keeping with a report.
The report by KBS Information says that prosecutors in Seoul have seized actual property and different property price roughly $160 million from eight staff of the blockchain agency behind the collapsed Terra (LUNA) ecosystem and TerraUSD (UST) algorithmic stablecoin.
In response to KBS Information, property price roughly $60 million have been seized from ex-Terraform Labs’ vice chairman Kim Mo whereas property valued at about $31 million have been confiscated from an unnamed government of the embattled blockchain agency. Property of an unnamed worth belonging to the Terraform Labs co-founder Daniel Shin have been additionally seized.
The seizures come weeks after the arrest of Terraform Labs co-founder Do Kwon in Montenegro after being on the run for months. Kwon is at the moment being held in Montenegro amid investigations into pretend journey paperwork that have been discovered on his individual as he was making an attempt to go away the southeastern European nation for the United Arab Emirates.
Final month, Kwon was arrested on the Podgorica Airport whereas allegedly within the possession of a cast Costa Rican passport. Kwon’s identification was positively confirmed by South Korean authorities by photographic and biometric information.
Apart from being wished in South Korea, US federal prosecutors have filed costs in opposition to Kwon and together with two counts of wire fraud and conspiracy to defraud, two counts of securities fraud and two counts of commodities fraud. The U.S. Securities and Alternate Fee (SEC) has additionally filed costs in opposition to the Terraform Labs co-founder.
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