THELOGICALINDIAN - The South Korean badge accept reportedly launched an analysis into accessible abstraction involving an agent of Terraform Labs To anticipate armamentarium transfers the badge accept requested crypto exchanges to benumb the Luna Foundation Guards accounts
Embezzlement Investigation and Asset Freeze
The Seoul Metropolitan Police Agency’s Cybercrime Investigation Unit appear Monday that it has launched an analysis into accessible abstraction by an agent of Terraform Labs, bounded media reported.
An official from the Seoul Metropolitan Police Agency was quoted by Chosun as saying:
The badge accustomed letters of the declared abstraction in the average of this ages and accept been attractive into the case. As allotment of the investigation, the badge plan to analysis the capacity of banknote and crypto affairs of Terraform Labs and the Luna Foundation Guard (LFG).
The badge explained that there is affirmation that embezzled funds had flowed into the Luna Foundation Guard’s accounts. The cybercrime assemblage has accordingly requested above calm cryptocurrency exchanges, such as Upbit and Bithumb, to “urgently” benumb the accounts acceptance to the Luna Foundation Guard to anticipate withdrawals of funds captivated at crypto exchanges.
However, the police’s benumb appeal is not a compulsatory amount according to Korean laws and regulations but a amount that needs to be arbitrarily performed by anniversary crypto exchange. Therefore, it has not been accepted whether the benumb requests accept been agitated out, the advertisement conveyed.
Cryptocurrency terra (LUNA) and stablecoin terrausd (UST) burst beforehand this ages afterwards UST absent its peg to the U.S. dollar.
Following the collapse, the Korean government launched an emergency investigation into the two bill and met with assembly of the country’s top crypto exchanges to altercate measures to anticipate agnate incidents from happening.
Last week, a cardinal of victims filed a accusation adjoin Terraform Labs CEO Kwon Do-hyung (aka Do Kwon) with the Seoul Southern District Prosecutors Office on accuse of actionable the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) and the Act on the Regulation of Similar Receipts.
In addition, Do Kwon dissolved Terraform Labs Korea canicule afore the collapse of LUNA and UST. While abounding doubtable abhorrent play, Kwon claimed that the timing was aloof “coincidental.” He additionally claims that his aggregation does not owe the Korean government any taxes.
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