South Korean prosecutors raided the home of Terra co-founder Daniel Shin as the fraud investigation into the collapse of Terra and its stablecoin continues, according to a local media report. By thesamreynolds
The raid was conducted as part of a broader investigation over allegations that fraud caused the collapse of the TerraUSD stablecoin, the report said.
In May, TerraUSD fell dramatically off its U.S. dollar-peg causing an industry-wide fallout that saw several hedge funds and exchanges fall victim to overexposure. In the same month, some South Korea-based Luna investors filed a complaint against Terraform Labs and co-founder Do Kwon alleging fraud and violations of local securities laws.major South Korean crypto exchanges, including Bithumb and Upbit, were raided by authorities.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korean authorities raid 15 entities linked to Terra collapse: ReportThe Seoul Southern District Prosecutors Office seized data related to TerraUSD and LUNA as part of an investigation into Terraform Labs.
Read more »
Person of interest in custody after rape at South Philly SEPTA stationPhiladelphia police say they have a person of interest in custody in connection to the sexual assault that took place at SEPTA station earlier this week.
Read more »
Chicago car thieves are targeting this make of vehicle on the South SideChicago police issued a community alert Wednesday after 18 cars were stolen from one South Side neighborhood in the past month.
Read more »
Ukrainian forces strike key bridge in Russian-occupied southHundreds continue to flee the Russian-backed area on a daily basis, which has been on the front lines of the war for months.
Read more »
South Africa deaths: Methanol in blood of 21 teens who died in tavernMany of the teens, ranging in age between 13 and 17, were found dead in the tavern, with their bodies strewn across tables and couches. Others died after they were rushed to nearby health facilities.
Read more »