$93 Million Frozen – Korean Gendarmes Advance Terra Investigation (LUNA)

Illegal earnings – South Korean justice has still not managed to get their hands on Do Kwon, who would be in Serbia at the last news. Nevertheless, she continues to crack down on other actors who allegedly profited from Terra (LUNA), while being implicated in its collapse.

>> Prefer to keep your cryptos safe? Choose a ledger portfolio (commercial link) <<

Collapse of Terra: freezing of the assets of the leaders of a blockchain company

According to a article of December 20 of a local media, the South Korean justice would have frozen assets worth 120 billion wonor more than $93 million. They are owned by seven executives from blockchain consulting firm, Kernel Labs.

The authorities believe that this company has played a role in the Terra disaster. Employees of Kernel Labs reportedly worked at Terraform Labs, and the consulting firm’s CEO, Kim Hyun-Joong, served as vice president of engineering there.

Do Kwon on the run
Unlike Sam Bankman-Fried, Do Kwon still running, while justice rages against other players tied to Terraform Labs.

According to the Seoul Southern District Court, Kernel Labs executives who were partly responsible for the crash of Terra were involved in the sale of Terra tokens that were pre-issued. They would have profited from these illegal transactions.

Kim Hyun-Joong’s Earnings Reportedly Amount To over $61 million. The CEO of Kernel Labs reportedly bought an apartment worth approximately $8 million in Seoul after the collapse of Terra, and a building of $27 million in the capital, in November of this year.

Authorities also have the former CEO of Kernel Labs in their sights. Blockchain consulting firm’s former number one reportedly received about $32 million in illicit income.

South Korean prosecutors continue their hunt for the possible culprits of the Terra disaster. In addition to issuing arrest warrants, they go after their assets which have allegedly been earned illegally.

In crypto, do not economize on caution! So, to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Do not wait to put your capital in safety (commercial link)!

Leave a Reply

Your email address will not be published. Required fields are marked *