Luna cryptocurrency token team banned from leaving Korea

The South Korean prosecutor’s office, which is investigating the collapse of the Terra ecosystem, has asked the Ministry of Justice to ban Terra co-founder Daniel Shin and all former and current executives of Terraform Labs from leaving the country.

As it has become known, in addition to the ban on leaving South Korea for the Luna cryptocurrency token team, the district attorney asked the representatives of the Ministry of Justice to send a «notice of arrival» (NOA) to Do Kwon. Currently, Do Kwon is in Singapore and it is unknown whether he will appear in Korea in the near future.

As it became known earlier, the South Korean prosecutor’s office conducted searches in 15 companies, including 7 cryptocurrency exchanges, all because of the investigation into the collapse of the UST and LUNA cryptocurrencies. Law enforcement agencies launched the investigation after investors filed a lawsuit against Terraform Labs CEO Do Kwon and co-founder Daniel Shin, who are considered guilty of losing their funds.

In early July, law enforcement agencies of South Korea and the United States agreed to cooperate in the investigation of the Terra ecosystem collapse — representatives of the prosecutor’s office of both countries will exchange information on the progress of the investigation. Do Kwon and Terraform Labs are the subject of many lawsuits, with new allegations appearing almost daily. And some of its employees are no longer allowed to leave South Korea.