Seoul Metropolitan Police Agency’s Cyber Crimes Investigations Unit revealed on Monday that it has received a report alleging a Terraform Labs employee was involved in embezzling corporate funds, according to local media reports.
See related article: Terra’s S.Korean office closure ‘purely coincidental’: Do Kwon
Fast facts
- The police are currently investigating the validity of the alleged report.
- In a related investigation involving Terraform Labs, police have requested local cryptocurrency exchanges to freeze Luna Foundation Guard (LFG) funds, according to local media reports.
- The police hope to identify, determine and seize any potentially illegal funds of Terraform Labs and LFG.
- Terraform Labs and its cofounders Do Kwon and Shin Hyun-seung are also being investigated by the Seoul Southern District Prosecutors’ Office following a lawsuit filed by at least five Terra/LUNA investors.
See related article: What’s the solution to Terra’s UST and LUNA crisis?