Prosecutors Conclude Week-Long Search Warrants in 'Luna-Terra Incident'

Seized Evidence Analysis and Summoning of Related Parties Expected to Follow

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] The prosecution investigating the 'Terra and Luna crash incident' has concluded the week-long search and seizure of cryptocurrency exchanges.

According to the legal community on the 28th, the Seoul Southern District Prosecutors' Office Financial Securities Crime Joint Investigation Team (Head Dan Sung-han) completed the execution of search warrants on some exchanges from the 20th to the 27th.

A prosecution official explained, "The forensic work on the digital data of the exchanges necessary for the investigation took a long time."

On the 20th of this month, the prosecution searched a total of 15 locations, including seven cryptocurrency exchanges, Terraform Labs affiliated corporations, and residences of related individuals.

Through this search and seizure, the prosecution is reported to have secured transaction records of Kwon Do-hyung, CEO of Terraform Labs, and Shin Hyun-sung, chairman of the board of Timon and co-founder, as well as materials related to the development process of the algorithmic stablecoin and the flow of funds.

After completing the search and seizure, the prosecution has begun a full-scale analysis of the seized items, and summons investigations of related persons are expected to continue.

Meanwhile, the prosecution has reportedly taken measures to notify upon entry for CEO Kwon, who is currently staying overseas, and imposed travel bans on key related figures such as Chairman Shin.

This content was produced with the assistance of AI translation services.