South Korea’s Raids on Terra & Connected Crypto Firms Finally Ends?

Reports suggest that Official investigations could not yield any concrete information that they have been looking for and hence, wrapped up the raids.
South Korea’s Raids on Terra & Connected Crypto Firms Finally Ends?

Seemingly, South Korea’s week-long prosecution raids on Terra Labs and other linked crypto exchanges, Tech firms, and Venture Capital has come to an end. The prosecutors have finally admitted that it was difficult to find information that they were looking for.

Reports reveal the Seoul Southern District Prosecutors’ Office-run Joint Financial and Securities Crime Investigation Team had busted 15 locations as part of its Terra (LUNC) investigation.

The prosecution had dispatched officials to the market-leading trading platforms including Upbit, Bithumb and Coinone and four other exchanges on July 20 and had also raided Terraform Labs’ co-founder, Daniel Shin’s house

In addition, they also probed Chai, a popular fintech tech firm that Daniel is linked with and another unnamed company that invests in venture capital.

Reportedly, the officers weren’t ‘in actuality’ probing the exchanges, but the trading activities linked to them.

What’s interesting is that even though officers were seen leaving Seoul’s multiple locations with boxes full of confiscated material, they hardly got hold of anything concrete. Seemingly, officers later returned to many addresses and spent seven days there.

Also read: FatManTerra Joins in Class Action Lawsuit Against Terra, Do Kwon

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