{"id":62231,"date":"2022-05-30T15:55:04","date_gmt":"2022-05-30T12:55:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62231"},"modified":"2025-09-05T16:43:13","modified_gmt":"2025-09-05T13:43:13","slug":"journalists-report-probe-into-terraform-labs-staff-in-south-korea","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/journalists-report-probe-into-terraform-labs-staff-in-south-korea\/","title":{"rendered":"Journalists report probe into Terraform Labs staff in South Korea"},"content":{"rendered":"<p>South Korean authorities have initiated an investigation into Terraform Labs staff as part of the probe into the collapse of the ecosystem, according to local news agency<a href=\\\"https:\/\/news.jtbc.joins.com\/html\/590\/NB12060590.html?log=jtbc%7Cnews%7Cindex_newsN_A\\\"> JTBC<\/a>.<\/p>\n<p>According to the reports, the Seoul Southern District Prosecutor&#8217;s Office has issued subpoenas to all staff of the organisation. Authorities are examining whether there was intentional price manipulation and whether LUNA underwent the &#8216;proper listing procedure&#8217;.<\/p>\n<p>The agency asserts that investigators obtained testimony from an employee who, in 2019, helped develop Terra. He allegedly stated that even then the native token mechanism &#8216;was faulty&#8217;.<\/p>\n<p>Earlier, it was reported that an interagency task force, comprising prosecutors and financial regulators, would handle the Terra collapse investigation.<\/p>\n<p>On May 24, authorities held an emergency session in the National Assembly. <span data-descr=\\\"Financial Supervisory Service of South Korea\\\" class=\\\"old_tooltip\\\">FSS<\/span> Lee Chang-woo announced reviews of firms providing Terra-related financial services.<\/p>\n<p>In the same month, lawyers from LKB &#038; Partners said they planned to file suit against Terraform Labs CEO Do Kwon and to request that prosecutors seize his assets.<\/p>\n<p>On May 28, Kwon announced the launch of the Terra 2.0 mainnet and the distribution of LUNA tokens to airdrop participants.<\/p>\n<p>On May 26, the Terra Classic community approved a proposal to burn TerraUSD (UST) held in the community pool, as well as stablecoins issued as part of the final stage of the liquidity mining incentive on the Ethereum blockchain.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\\\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korean authorities have initiated an investigation into Terraform Labs staff as part of the probe into the collapse of the ecosystem, according to local news agency JTBC.<\/p>\n","protected":false},"author":1,"featured_media":62232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[974,852],"class_list":["post-62231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-south-korea","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62231"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62231\/revisions"}],"predecessor-version":[{"id":62233,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62231\/revisions\/62233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62232"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}