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Korean police announce banning Terra employees from leaving the country

Terraform Labs employees are said to have been unable to leave Korea because prosecutors have imposed an exit ban to investigate the Terra collapse (LUNA) and UST.

According to the Korean news agency JTBC News, the financial task force “Death” newly re-established by the Seoul government to investigate LUNA-UST has issued a decision to ban the exit and movement of employees and former employees. by Terraform Labs, the company behind the Terra cryptocurrency project (LUNA) and stablecoin UST.

The decision could be a preparation step for officials to investigate more deeply into the project and why it collapsed. Prosecutors recently summoned several Terra employees to testify.

This information was also confirmed by a former Terraform employee Daniel Hong, who stated on Twitter the following:

Don’t ask me why I can’t go to New York, here’s why: the Korean government today issued an exit ban for all former Terra employees.

Mr. Daniel Hong claimed that he was not informed in advance because of the decision because the authorities were worried that the suspect would flee or destroy evidence. This person believes that he and the former Terra employees are being treated as “criminals” and cannot accept this.

However, there are opinions that this is a necessary action to serve the investigation. The account FatManTerra, one of the voices criticizing and revealing many behind-the-scenes secrets of LUNA-UST since the model’s collapse, commented:

“Current and former employees of Terraform Labs have been barred from leaving Korea. Some are overseas and cannot be contacted [referring to CEO Do Kwon]. If you got rich from a scam, you deserve to be punished. If you are innocent, be brave enough to testify in court.

It should be added that the former / current employee of Terraform Labs is very difficult to define, because 90% of employees have removed traces of working for Terra from social networks and many other employees work remotely. office, so this move by the government is necessary.‚ÄĚ