Korean Prosecutors Raided 7 Crypto Exchanges With Connections to Terraform Labs
South Korean prosecutors raided seven local crypto exchanges to investigate a fraud case linked to Terra’s implosion. The operation is to determine if the collapse of the Terra ecosystem was an intentional move done by Do Kwon, the founder & CEO of Terraform Labs.
Seoul Southern District Prosecutors Office raided Bithumb, Upbit, Coinone, and four other exchanges on Wednesday to probe a fraud case linked to the crash of Terraform Lab’s TerraUSD and Luna, according to the local media, Yonhap News Agency. Besides major exchanges, eight other places associated with the people with potential connections to the case were also raided by the prosecutors, the report noted.
Source
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