S Korea bans Terraform staff from leaving country amid probeSouth Korea has banned current and former employees of Terraform Labs from leaving the country, suggesting prosecutors are stepping up their investigation into the TerraUSD stablecoin’s collapse. Yonhap News reported that about 15 people, including former project developers for the Anchor lending protocol, received travel restrictions, citing “legal sources”. South Korea’s move comes a little more than a month after the high-profile implosion of algorithmic stablecoin TerraUSD, or UST. Prosecutors are also looking to invalidate Terraform Labs co-founder Do Kwon’s South Korean passport, local broadcaster YTN reported on Tuesday. The authorities may also summon Kwon or issue seize and search warrants to collect related documents from his office, Yonhap reported.
Source: Bangkok Post June 21, 2022 23:56 UTC