South Korean prosecutors have banned an unspecified number of current and/or former Terraform Labs officials, including developers, from leaving the country.
KBS, the South Korean state broadcaster, reported that the identity of two of the number had been confirmed – and that both were former high-ranking officials at the company or its affiliates.
Prosecutors – including the recently reformed Yeouido Grim Reaper financial crimes investigation unit – have been investigating Terraform on suspicions of financial irregularities following last month’s UST/LUNAC crash.
Terraform was founded in Singapore in 2018.
The report said that South Korean officials appear to be concerned that certain individuals may look to flee the country.
It explained that Do Kwon, the Terraform co-founder, could seek to obtain Singaporean citizenship. Singaporean law stipulates that the foreign owners of certain firms can apply for citizenship if they meet a number of criteria. These include living in...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...