Terraform Labs' bankruptcy filing has significant implications for the Terra community and the market. The ongoing legal challenges, coupled with Do Kwon's troubles, contribute to a challenging environment. LUNA's market performance reflects the prevailing negative sentiment, with potential extradition complications adding to the uncertainty.
Cheng YuanHe had previously been arrested at Podgorica airport for using a fake passport, after having been on the run for about a year.
AlexPrevious attempts to arrest the Terra co-founder Daniel Shin failed because a South Korean court refused to grant the arrest warrant.
CryptoSlateTerraform Labs is headquartered and registered in Singapore and this is the first time the country has publicly taken action against Do Kwon and his firm.
CryptoSlateFaced with the recent sharing of the former president of FTX US, Brett Harrison, Sam Bankman-Fried (SBF) said that those things are untrue.
OthersTerraform Labs employees have reportedly been prohibited from exiting South Korea as investigations by prosecutors continue.
CointelegraphThe U.S. regulator is investigating whether Terraform used its Mirror Protocol to sell unregistered securities in a case unrelated to the Terra collapse.
CointelegraphSouth Korean authorities are currently investigating Terraform Labs and its employees on several charges including tax evasion and market manipulation.
CointelegraphThere have been many calls on social media for legal action against Do Kwon, and there has also been speculation that the potential departure of his legal team may be motivated by money concerns.
CointelegraphAccording to South Korean corporate tax laws, foreign-registered companies are treated as domestic if the decision-making process and operations are carried out from the country.
Cointelegraph