According to reports from KBS News, South Korean law enforcement agencies have confiscated assets worth approximately 200 billion won ($153.6 million) from former employees of Terraform Labs.
The Financial Crime Investigation Team of the Seoul Southern District Prosecutor’s Office has seized the property of at least eight individuals, including co-founder Daniel Shin.
Shin was issued an arrest warrant in November 2022, as prosecutors suspect him of selling LUNA cryptocurrency assets during a bull market and making a profit of 140 billion won (approximately $105 million), which contributed to the collapse of the Terra ecosystem.
The authorities have also issued arrest warrants for four Terraform Labs engineers and three investors who promoted LUNA and the UST stablecoin.
Terra CEO Do Kwon and his business partner Hon Chang-joon were apprehended in Montenegro on March 23 while attempting to flee to Dubai with fake documents.
The United States and South Korea are now requesting the extradition of Kwon, and hours after his arrest, U.S. prosecutors filed criminal charges against him.
It was previously disclosed that Kwon had established a company in Serbia a few weeks after Interpol placed him on the international wanted list.