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Special-unit-tasked-with-investigating-last-week-collapse-of-the-Terra-blockchain
According to South Korean media reports a special investigative and prosecutorial specialized financial crimes unit has been tasked with investigating last week’s collapse of the Terra blockchain’s main cryptocurrencies.
As per SBS News reported on Wednesday a group is designed to prosecute securities fraud and unfair trading schemes including investigate the methods Terraform Labs used to attract investors. The team consists of members from various financial prosecutors and employees regulators, from the Financial Services Commission and the Financial Supervisory Service. Along with core members Terra team including co-founders Do Kwon and Shin Hyun-seong all are potentially at risk.
In the community many hold Kwon responsible for the collapse of the project. South Korean investors will also bring a civil lawsuit against Kwon for damages, as well as a criminal lawsuit for fraud against him. Additionally, they will push for Kwon's assets to be seized. The founder Do Kwon had to faces hefty tax fines. Last week a resident of Singapore filed suit against Kwon week on behalf of at least 1,000 other residents who invested in the Terra ecosystem. This lead to Kwon’s legal troubles extending beyond South Korea.
Special-unit-tasked-with-investigating-last-week-collapse-of-the-Terra-blockchain
According to South Korean media reports a special investigative and prosecutorial specialized financial crimes unit has been tasked with investigating last week’s collapse of the Terra blockchain’s main cryptocurrencies.
As per SBS News reported on Wednesday a group is designed to prosecute securities fraud and unfair trading schemes including investigate the methods Terraform Labs used to attract investors. The team consists of members from various financial prosecutors and employees regulators, from the Financial Services Commission and the Financial Supervisory Service. Along with core members Terra team including co-founders Do Kwon and Shin Hyun-seong all are potentially at risk.
In the community many hold Kwon responsible for the collapse of the project. South Korean investors will also bring a civil lawsuit against Kwon for damages, as well as a criminal lawsuit for fraud against him. Additionally, they will push for Kwon's assets to be seized. The founder Do Kwon had to faces hefty tax fines. Last week a resident of Singapore filed suit against Kwon week on behalf of at least 1,000 other residents who invested in the Terra ecosystem. This lead to Kwon’s legal troubles extending beyond South Korea.