Journalists learned about the verification of TerRaform Labs employees in South Korea

The authorities of South Korea initiated the verification of TerRaform Labs employees as part of the investigation of the collapse of the ecosystem. This is reported by the local information agency JTBC.

According to media reports, the division of the prosecutor’s office of the Southern District Seoul sent the summons to all employees of the organization. The authorities check if there was a deliberate manipulation of prices and whether Luna passed the “proper listing procedure”.

The news agency claims that investigators received testimony of an employee who participated in the development of Terra in 2019. He allegedly stated that even then the mechanism of Native Token “was faulty”.

Earlier it became known that in South Korea, an interdepartmental group consisting of prosecutors and financial regulators will be investigated by investigation of Terra collapse.

On May 24, the authorities held an emergency meeting in the National Assembly of the country. FSS Vice President Lee Chanva announced inspections of companies that provide financial services related to Terra.

In the same month LKB lawyers & Partners announced plans to sue CEO TerRaform Labs to Kwon and demand from the prosecutor’s office to arrest his property.

Recall, on May 28, Kwon announced the launch of the main Terra 2.0 and the accrual of tokens to the participants of the Airrodpe Luna.

On May 26, the Terra Classic community approved a proposal regarding Terrausd (UST) in the community pool, as well as stabilcoins issued as part of the last stage of stimulation of liquidity on the Ethereum blockchain.