South Korean authorities have questions about the Terra collapse. The Seoul Southern District Prosecutors Office reportedly launches a full-scale investigation of Terraform Labs in the aftermath of the fall of the Terra ecosystem.
The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna Classic , previously known as Terra , and TerraUSD tokens, by reportedly summoning subpoenas to employees.
South Korean authorities have reportedly summoned all employees at Terraform Labs as part of a full-scale investigation of the collapse of UST and LUNC, the local news agency JTBCAccording to the report, the probe is conducted by the joint financial and securities crime investigation team of the Seoul Southern District Prosecutors Office. The authorities are looking into the case to check for signs of intentional price manipulation and whether the tokens went through proper listing procedures.
The investigators also reportedly alleged that the Terra token’s mechanism was faulty in the first place, as UST is not pegged to a stable collateral or profit model. “At a certain point in time, there is no other way but to collapse because it cannot handle interest payments and fluctuations in value,” the authorities reportedly said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
South Korean Prosecutors Launch Investigation on All Terraform Labs Employees Following UST CollapseSouth Korean prosecutors have summoned Terraform Labs employees for a thorough investigation, local reports say. They also want to investigate whether Do Kwon manipulated prices. These new investigations are taking place as Terra tries to revive itself with a new blockchain. South Korean...
Lire la suite »
Ross Gerber Says Terra Is Just “Another Crypto Scam”Investor Ross Gerber is convinced that Terra was just another scam project
Lire la suite »
Terra 2.0 relaunches according to Do Kwon's revival planKwon’s revival plan for Terra involves hard forking the existing blockchain and reissuing LUNA tokens to existing investors.
Lire la suite »
Investors dumping on Terra as LUNA 2 tanks 70% in two daysThe sharp plummet seems to suggest a relative lack of faith in Do Kwon’s revamp moving forward, with many investors indicating on Twitter that they are instead looking to recover a small portion of their previously lost capital.
Lire la suite »
A $90 million DeFi exploit on Terra went unnoticed for seven monthsA security bug allowed a hacker to drain about $90 million from Mirror Protocol on the old Terra blockchain.
Lire la suite »