Police administrations in South Korea are assuming policy to freeze investments linked to the non-profit group Luna Foundation Guard, regarding KBS, the country’s national commentator.
Per the publication, the Seoul Metropolitan Police Agency inquired about numerous exchanges to block Luna Foundation Guard (LFG) from revoking any corporate budgets.
Nevertheless, the trades are not binding by law to do so, implying that whether or not those efforts will be produced is blurred, regarding to KBS.
Police announced that they interfered after discovering evidence demonstrating that there were robbed funds within LFG, per the announcement.
Pursuing the last Terra meltdown, which saw the significance of stablecoin TerraUSD (UST) decline below $0.10, some investors have already sued Terraform Labs creator Do Kwon.
Moreover, in association with the current destruction of the Terra ecosystem, Korean lawmakers are meeting with ambassadors from five of the largest trades in South Korea on Monday and Tuesday, according to Chosun Daily.
Those corporations are Upbit, Bithumb, Coinone, Korbit and Gopax, according to Newspim. They will likely have to reply to whether or not they should also be held responsible for the failure of budgets by token owners.
Yoon Chang-Hyeon, chairman of the People Power Party’s Virtual Assets Special Committee, said”we will request a quality investor preservation policy to be implemented amongst exchanges,” in a Facebook post, according to Newspim.
Coinone suspend trading of Luna — which is an aspect of the Terra ecosystem and was implied to assist UST to protect its peg to the dollar — after its value dropped. At the same time, Korbit and Bithumb published “investment threats.”
