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Korea Prosecutors Raid Crypto Exchanges, Homes in Terra Probe

  • Upbit, Bithumb, Gopax among crypto exchanges that were raided
  • Prosecutors also searched homes of people under investigation

South Korean prosecutors are stepping up their investigation into Terraform Labs, whose stablecoin TerraUSD collapsed in May, setting off a rout in cryptocurrency markets.

A team of investigators from the Seoul Southern District Prosecutors Office began seizing transaction records and other material from seven local exchanges at 5:30 p.m. local time on Wednesday, the office said in a message.