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    Prosecutors ban Terra’s main designer from leaving Korea

    On June 20, the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities Crime Investigation Team (Collaborative Team) slapped a departure restriction on “Mr. A,” one of the major creators of Terra’s mainnet project, according to a South Korean TBC report.

    In an interview with JTBC, Mr. A said that Terraform Labs CEO Dohyeong Kwon, also known as Do Kwon, “earned enough money to buy an island.” The prosecution is interested in whether the money was used to artificially inflate the coin’s value.
    Kwon was also accused of withdrawing $2.7 billion prior to the Terra disaster, which he denied.

    As a result, the prosecution’s decision to withdraw looks to be an attempt to keep these key figures out of the spotlight.

    As a result of such actions to prevent departure, the possibility of a forced inquiry, including a search and seizure and “summoning by lines” of authorities, is increased.

    The prosecution is currently planning the investigation’s timeline with Terra authorities. “It is impossible to ascertain if the departure prohibition is linked to the investigation’s confidentiality,” a Ministry of Justice representative stated.

    It’s also been reported that the prosecution is undertaking a legal assessment to determine if Kwon and others may be charged with fraud and violating the Similar Receiving Act.

    However, because Kwon is still in Singapore for a lengthy amount of time, he must first take actions to commence a legal investigation, such as cancelling his passport.

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