As part of an investigation into the collapse of Terra in May, South Korean prosecutors attacked seven local crypto exchanges on July 20. report According to Yonhap News Agency.
According to the report, investigators from the Southern Seoul Prosecutor’s Office have seized transaction records and other materials from Upbit, Bithumb, Coinone, and four other exchanges. Upbit, Bithumb and Coinone are the largest exchanges in South Korea.
Investigators also attacked eight other locations, including the residences and offices of the people involved in the case, the report said.
The investigation team will analyze the seized material, ask witnesses to determine the magnitude of the damage, and determine whether Kwon intentionally caused the collapse of Terra, the report said. In June, investigators secured Kwon’s record from the tax office to investigate allegations of tax evasion.
Terra investors have filed a complaint against Kwon and Terraform Labs co-founder Daniel Shin after the company’s stablecoins TerraUSD (USTC) and Luna (LUNC) collapsed in May. Investors have accused the co-founder of committing fraud, which has resulted in billions of dollars in losses.
An estimated 280,000 South Korean investors were affected by the collapse of Terra, according to the National Financial Services Commission.
