Terra (LUNA) workers are apparently not able to depart Columbia because the country’s prosecutors enforced a departure ban on key developers from the project.
Korean media outlet JTBC reported on Monday that the analysis team from Seoul Southern District Prosecutor’s Office has enforced a travel ban on key team people of Terraform Labs. The prosecutors enforced the ban to get rid of the chance that key officials within the organization might have to go abroad to prevent any more analysis.
The report also highlighted that Terra Chief executive officer Do Kwon, who’s a vital estimate the analysis, is presently remaining in Singapore, that is outdoors of the nation. Due to this, the report highlighted the prosecution might take measures like making Kwon’s passport invalid, before having the ability to launch a far more comprehensive analysis on Kwon.
Inside a tweet, Terra developer Daniel Hong shared that even former Terra employees have obtained an exit ban in the government. Based on Hong, no employees were notified to prevent any chance of destruction of evidence because the analysis continues.
stop asking me why i could not reach New york city frens, for this reason: the Korean government enforced an exit ban for those ex-@terra_money employees today pic.twitter.com/5Jds99ZNwQ
— Daniel Hong (@unifiedh) June 20, 2022
Hong also expressed disappointment using the ban. Based on Hong, the ban implies that the workers are treated like a criminal and it is unacceptable. The developer noted that employees who might’ve been prepared to cooperate might have altered their brains due to the ban.
Related: Appeals court rules Do Kwon, Terraform Labs must heed SEC subpoena offered in September
In May, a famous financial crimes analysis unit dubbed the “Harsh Reapers of Yeouido” continues to be elevated through the South Korean government to research the collapse of Terra. They will contain various regulators and can concentrate on prosecuting fraud and illegal buying and selling schemes.
Meanwhile, the exchanges in Korea have created a brand new system that will ensure regulatory compliance making u . s . decisions to avoid another situation like what went down with Terra. The emergency system is going to be activated within 24 hrs when a situation like the Terra fiasco seems.
