Prosecutors ban leading cryptocurrency developer Luna from leaving Korea

According to journalists of the South Korean media outlet JTBC, the prosecutor’s office has banned one of the main developers of Terraform Labs from leaving South Korea — it is not yet known whether the developer had planned to leave the country before.

In addition to the lead developer, the prosecutor’s office will block the ability of all key individuals involved in Terraform Labs to travel abroad. After the travel bans are imposed, it is likely that the prosecutor’s office will start compulsory searches of the suspects. Currently, the prosecution is also looking for solid evidence to charge Kwonwith fraud.

The South Korean National Tax Service is also working on the case of the Luna cryptocurrency collapse. Recently, they discovered a «suspicious flow of money from a foreign corporation» that conducted transactions between Singapore and the Virgin Islands. The tax authorities reported that Do Kwon had evaded paying taxes on profits of 50 billion won ($ 39 million) and did not tax the purchase of an apartment for his family.