South Korean prosecutors said nine former and current executives of Terraform Labs illegally raised 414.5 billion won (about $314.2 million) from the project, of which about 91.4 billion won belonged to Do Kwon, the company's chief executive, but confirmed that none of his assets were under South Korean jurisdiction.
Local prosecutors have temporarily seized assets belonging to Terraform co-founder Shin Hyun-seung, also known as Daniel Shin, including real estate and imported cars. Prosecutors in the country have accused Daniel Shin of illegally profiting from the Terra-Luna project to the tune of more than 154 billion won. do Kwon appears to have exchanged a large portion of his fortune for bitcoin, which was transferred to overseas crypto exchanges. Prosecutors said they have asked Coinan to prevent Do Kwon from withdrawing his cryptocurrency.
In previous news, South Korean prosecutors have searched and seized properties totaling more than $200 million belonging to Terra executives and employees
Local prosecutors have temporarily seized assets belonging to Terraform co-founder Shin Hyun-seung, also known as Daniel Shin, including real estate and imported cars. Prosecutors in the country have accused Daniel Shin of illegally profiting from the Terra-Luna project to the tune of more than 154 billion won. do Kwon appears to have exchanged a large portion of his fortune for bitcoin, which was transferred to overseas crypto exchanges. Prosecutors said they have asked Coinan to prevent Do Kwon from withdrawing his cryptocurrency.
In previous news, South Korean prosecutors have searched and seized properties totaling more than $200 million belonging to Terra executives and employees