A more than week-long prosecution raid of South Korean crypto exchanges and companies linked to Terraform Labs has finally come to an end, with officers admitting that finding the information they were after was challenging.
As reported, the Seoul Southern District Prosecutors’ Office-run Joint Financial and Securities Crime Investigation Team last month swooped on 15 locations as part of its ongoing probe into the “Terra (LUNC) incident.”
The prosecution dispatched officers to the market-leading trading platforms Upbit, Coinone, and Bithumb – along with four other exchanges – at 5:30 PM KST (8:30 AM UTC) on July 20. It is widely understood that the officers were not investigating the exchanges themselves, but rather the trading activities of individuals related to Terraform.
Officers are investigating allegations that Terraform executives were aware of an impending crash or that they “intentionally brought about” the collapse of multiple Terra ecosystem coins in May.
The team also...
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