Legal troubles mount for Terraform Labs as Seoul police investigative

Cointelegraph

Published Jun 09, 2022 06:07AM ET

Updated Jun 09, 2022 07:40AM ET

Terraform Labs, the parent company behind the collapsed Terra ecosystem, is currently under multiple investigations from the South Korean authorities.

The latest investigation revolves around the alleged embezzlement of Bitcoin (BTC) from the company’s treasury. According to a report published in a local daily, the Seoul Metropolitan Police Agency received an intelligence tip last month informing them of possible embezzlement of BTC by one of the employees of the firm.

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