South Korean cryptocurrency exchanges received letters from the Seoul police asking them to block the movement of funds on Luna Foundation Guard accounts in connection with theft.
how report local publications, Upbit, Bithumb, Coinone, Gopax and Korbit have received similar requests. At the same time, this is really a request, and not a requirement, backed up by law and a court decision. That is, cryptocurrency exchanges can act at their discretion, including refusing to block.
Such a request is connected with the collapse of the Terra ecosystem and the UST stablecoin. After this event, the South Korean authorities launched emergency checks of cryptocurrency exchanges and warned of a large number of speculations with the LUNA coin.
According to publications, local authorities are going to get “to the very bottom” of the whole situation with the Terra ecosystem. It is quite possible that some of the losses of investors can be attributed to cryptocurrency exchanges and forced to refund funds.
In addition, earlier, the South Korean tax administration fined Terraform Labs $78 million for alleged tax evasion.
Source: Bits
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