A story claims that Terraform Labs workers have had millions of dollars worth of assets seized by South Korean authorities.
According to a report by KBS News, eight workers of the blockchain company responsible for the defunct Terra (LUNA) ecosystem and TerraUSD (UST) algorithmic stablecoin had their real estate and other assets valued at about $160 million seized by Seoul prosecutors.
Kim Mo, a former vice president of Terraform Labs, reportedly had assets worth around $60 million taken from him, while an unidentified official of the troubled blockchain company had assets worth about $31 million taken. Daniel, a co-founder of Terraform Labs, is the owner of assets of an unspecified worth.
Kim Mo, a former vice president of Terraform Labs, reportedly had assets worth around $60 million taken from him, while an unidentified official of the troubled blockchain company had assets worth about $31 million taken. Additionally, Daniel Shin, the co-founder of Terraform Labs, had unspecified assets taken.
The seizures occur a few weeks after Do Kwon, a co-founder of Terraform Labs, was apprehended in Montenegro after months of being on the run. Investigations into bogus travel documents discovered on Kwon’s person as he attempted to depart Montenegro for the United Arab Emirates are the reason why he is presently being detained in the nation.
Kwon was detained at the Podgorica Airport last month after being accused of using a fake ID.
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