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Korea Bans Terraform Staff From Leaving Country Amid Probe

  • 15 current and former employees can’t travel, Yonhap reports
  • Travel ban comes as Korea steps up probe into Terra’s collapse
Terraform Labs co-founder Do Kwon.

Terraform Labs co-founder Do Kwon.

Photographer: Woohae Cho/Bloomberg
Updated on

South 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. 

An official with the prosecutors’ office in Seoul confirmed that “officials linked to the stablecoin’s collapse” have received travel restrictions, but declined to disclose how many got the notice or describe the status of the investigation.