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Zuid-Koreaanse politie gaat achter Luna Foundation Guard aan

South Korean police are chasing the guard of the Luna Foundation »Crypto Insiders

Police in South Korea are currently busy with the consequences and investigation of the deaths of Terra (LUNA) and TerraUSD (UST) stablecoin† It was announced yesterday that South Korean police have called on crypto exchanges in the country to freeze funds linked to the Luna Foundation Guard.

Luna Guard Foundation

On Monday, the Korean authorities sent Request To the largest cryptocurrency exchanges in the country to prevent the withdrawal of certain funds by the Luna Foundation Guard. The Cybercrime Investigation Team has asked the Seoul Metropolitan Police Agency to prevent this organization from taking any action. Police say they have found indications that could link the organization to misappropriation of funds.

Terraform Labs and co-founders Do Kwon and Shin Hyun-Seung are also under investigation by prosecutors after a lawsuit was filed by at least five Terra/LUNA investors. They claim that Terraform Labs acted fraudulently.

The authorities in South Korea are clearly unhappy with the actions of the leaders behind the Terra Ecosystem and the Luna Foundation Guard. Earlier it was rumored that there was at least $1.2 billion in the balance sheet of the Luna Foundation Guard was without a trace† So, of course, it is not surprising that the South Korean authorities are now launching a major investigation and asking crypto exchanges to freeze funds from the Luna Foundation Guard.

Is there fraud?

Although it is still too early to draw any conclusions, given that investigations are of course still ongoing, many people seem to suspect fraud was involved. US Senator Pat Tommy also recently indicated that he has a dark brown suspicion that Terraform Labs and Do Kwon were not playing by the rules. Tell at Baron The Terra team’s promises of extremely high returns are highly questionable to say the least.

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Also a famous investor and hedge fund manager Bill Ackman He indicated that he believed he was involved in malice. He stated that Tira was most likely a pyramid scheme.