South Korean prosecutors have imposed a ban on leading Terraform Labs from leaving the country.
According to a report by South Korean media outlet JBTC, the Seoul Southern District Attorney’s Office Joint Financial and Securities Crimes Investigation Team has imposed a ban on leading Terraform Labs from leaving the country.
The Seoul Southern District Attorney’s Office Joint Financial and Securities Crimes Investigation Team has imposed a ban on the company’s leaders to leave the country, South Korean media outlet JBTC reported on June 20. One of the names in question said he had previously spoken to Terraform Labs CEO Do Kwon and told him he had “made enough money to buy an island.” He also told reporters that Kwon secretly sells his cryptocurrency to institutions so that he can raise large sums of money.
As part of the investigation, prosecutors are investigating whether funds collected in this way were used to artificially increase the price of the asset.
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