• Fri. Sep 29th, 2023



The authorities of South Korea detained Terraform Labs employee


Oct 20, 2022

The authorities of South Korea detained Terraform Labs employee

The South Korean prosecutor’s office detained Terraform Labs (TFL), who was on the territory of the country, and requested an arrest warrant. This is reported by JTBC.

Law enforcement officers consider a man named in the report of Yu, one of the key assistants of CEO TFL to Kwon. It is assumed that the suspect was engaged in the “creation of the market” in the collapsed Terra ecosystem, pumping up trade volumes through bots to manipulate the price of assets.

September 14 in Korea issued an arrest warrant and five more TFL employees. Yu is one of them.

According to the publication, the court will take the decision to detain him on October 6.

Earlier, the head of TFL said that he was not hiding and cooperates with law enforcement officers. At the end of September, Bloomberg announced the issuance of a “red notification” for the detention of Kwon. At the time of writing, there is no card on the department’s website.

After receiving the warrant, the prosecutor’s office applied to the Ministry of Foreign Affairs for canceling the passports listed in it.

In early October, the department was satisfied with the request of law enforcement officers. Kvon was obliged to return the passport within 14 days.

Recall that the authorities initiated a prosecutor’s check of TFL in https://gagarin.news/news/sango-coin-car-launched-its-digital-currency/ May, according to the media.

In July, law enforcement officers conducted searches in the house of TFL co -founder Daniel Shin and the office of the early investor of Dunamu & Partners.

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