South Korean authorities announced the seizure of assets worth $160 million belonging to eight people linked to the collapse of Terraform Labsincluding the co-founder Daniel Shin. This decision was made to prevent former Terra employees from disposing of assets potentially linked to criminal prosecution.
The authorities mainly seized real estate worth approximately 210 billion won ($160 million). The prosecution team spokesperson said investigations are continuing into the property status of the suspects and that they plan to preserve confirmed property in the future in order to recover proceeds of crime and recover assets. damage.
Since the collapse of the platform, the whereabouts of the other co-founder, Do Kwonwas unknown for months, but in March it was arrested in Montenegro at the request of the United States and South Korea. Authorities are determined to prosecute those involved in the collapse of the Terra (LUNA) ecosystem where many fraudulent and criminal practices appear to be involved.
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