More troubles are brewing for the founding members of Terra. South Korean authorities reportedly issued a departure ban on one of the company's 'main designers.'
South Korean Authorities Impose Departure Ban on One of Terra’s Main Designers: ReportMore troubles are brewing for the founding members of Terra. South Korean authorities reportedly issued a departure ban on one of the company’s “main designers.”
The prosecution is now investigating if the money funds were used for ‘market price adjustment’ that artificially inflates the token price. “It is impossible to confirm whether the departure ban is related to the confidentiality of the investigation.”by blockchain security firm Uppsala Security, the collapse that resulted in billions of losses of dollars could have been an inside job. It said the potential attacker’s wallet responsible for the events that transpired last month might have been associated with Terraform or any of its related entities.
South Korean authorities, on the other hand, were forced to form a committee dedicated solely to strict regulation and supervision of the crypto industry until the approval of the Digital Assets Framework Act and the rolling out of a government agency to avoid another Terra-style meltdown.
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