Police Launch Investigation into Terra and Luna Cases... Request Exchange to Freeze Funds

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The police have launched an investigation into the Terra and Luna cryptocurrency incident, which saw a plunge resulting in the disappearance of 58 trillion won. The investigation is expected to focus on the flow of funds related to Terra and Luna.

On the 23rd, the Cyber Investigation Division of the Seoul Metropolitan Police Agency announced that they have started investigating after detecting embezzlement allegations against an employee of Terraform Labs, the company that issued Terra and Luna.

A police official stated, "We have received information about corporate funds suspected to have been embezzled by a person presumed to be an employee of Terraform Labs," adding, "We are currently verifying the facts."

To track the flow of funds, a request was made to domestic cryptocurrency exchanges to freeze the related funds. Going forward, the police plan to focus on identifying the cryptocurrency and cash flows and transaction details of Terraform Labs and the foundation supporting the company, Luna Foundation Guard.

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