Seoul Southern District Attorney’s Office officials raided the home of Terraform Labs co-founder Daniel Shin as part of an investigation into the collapse of the Terra ecosystem. This is reported by local media.

According to them, investigators also came to the headquarters of Upbit, Coinone, Bithumb, Korbit and Gopax cryptocurrency exchanges. Journalists claim that law enforcement is interested in learning about transactions with LUNA, the head of Terraform Labs, Do Kwon, and company employees.

Prior to this, it was alleged that the office of one of the early investors of Dunamu & Partners was searched. According to media reports, the company invested 2 billion won in Terraform Labs “to acquire 20 million LUNA and then exchange the tokens for bitcoin.”

The publication indicates that Dunamu & Partners is a subsidiary of Dunamu, the operator of the Upbit exchange. Representatives of the prosecution have not yet commented on the information.

In the wake of Terra’s collapse, South Korean financial regulators held an emergency meeting to assess the impact of the incident. According to media reports, local authorities began checking Terraform Labs employees as part of the investigation.

In June, it became known that the US Securities and Exchange Commission began to take an interest in the people behind the UST stablecoin.

Recall that the Seoul Southern District Attorney’s Office exchanged information with colleagues from New York regarding the investigation into Terra’s collapse.

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