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Terra’s blunder came directly from television and was at the heart of the 2022 crypto market plunge. A prosecutor investigating South Korea’s Terra blunder has asked the Ministry of Justice to issue a “notice of arrival” to CEO Dokwon. Investigators also reportedly sought a ban on terraforming lab co-founder Jang Hyun Seung or Daniel Singh.Development reported by local press Herald Corp..
“Notification on Arrival” informs investigators if and when Kwon will enter Korean territory. Such measures are taken during an urgent and aggressive investigation in which the subject has escaped jurisdiction. Kwon is believed to currently live in Singapore. However, while talking to Volcast, the prosecution did not reveal Kwon’s whereabouts.
Shin, along with Kwon, was sued by Terra investors in May after TerraUST’s Depeg and the collapse of the Terra network. However, Shin said he had cut off his relationship with the company in 2020.
Shin was recently in the news after South Korean law enforcement officials attacked his home. His payment platform Chai Corp was also investigated. This was part of a series of raids carried out by the authorities. They also looked at crypto exchanges such as Upbit, Bithumb, and Gopax.
In addition, investigators also discovered a subsidiary of Terra called. FLEXE Corporation.. FLEXE is allegedly used to send funds from abroad to Terra affiliates. The company was not present in the building when the inspector went to the listed locations. In addition, according to Korean news source KBS, the company was a dormant paper company.
Since the end of the grace period, Terra has forked the network and renamed the new blockchain to “LUNA”. The old blockchain is now called LUNA Classic (LUNC).
At the time of pressing, LUNA transaction It increased by 2.4% in the last 24 hours to $ 1.72.On the other hand, LUNC transaction At $ 0.00009535, it has increased by 4.6% in the last 24 hours.
