Crypto winter since 2022 Bitcoin (BTC) and cryptocurrencies as well as affected crypto companies and projects in the industry.
The first event this year, which greatly damaged both cryptocurrency prices and companies, was in May. Terra (Luna) has collapsed.
After the Terra collapse, investigations into the incident were launched in South Korea and within the scope of these investigations Terra founder Do Kwon An arrest and search warrant was issued for him.
In addition, the assets of people or companies thought to be related to Terra were frozen.
In this context, in November Terra co-founder Daniel ShinThe Seoul Southern District Court, which seized $108 million (140 billion won) worth of assets, has decided to confiscate more assets related to Terra.
local news agency The Korea Economic DailyThe Seoul Southern District Court has granted the prosecution’s request to confiscate the property of seven people it considers to be related to the Terra incident, .
In this context, the court Terraform labsdecided to freeze 120 billion won ($92 million) assets of former and current CEOs of its subsidiary Kernel Labs.
Court and prosecution, established in 2018 Kim Hyun-joong, CEO of Kernel LabsHe believes that MD may have close ties to Terra, as he previously served as vice president of engineering at Terraform Labs.
Some sources even claimed that Kernel Labs employees work in the South Korean office of Terraform Labs.
South Korean prosecutors believe that Kim, CEO of Kernel Labs, made illegal profits of at least 79 billion won ($61 million) from Terra.
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