Korean Regulators Seize $150M in Terraform Labs Case

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• Korean authorities have seized over $150 million in unfair gains from people tied to Terraform Labs.
• The prosecution recently seized around KRW 210 billion ($151 million) from co-founder Shin Hyun-Seong and seven other people.
• Do Kwon, the co-founder of Terraform Labs, has been arrested and faces up to 5 years if found guilty.

Seizure of Assets

Korean authorities have seized over $150 million as compensation in the Terra case from people suspected of making unfair gains from Terraform labs. According to a news report by KBS News, the prosecution in Seoul’s Southern District seized assets including lands and houses associated with the suspects. This seizure prevents them from selling these assets, however it doesn’t necessarily mean that they resulted from a crime. The prosecution noted that they plan to carry out collection preservation for the confirmed property in order to recover criminal proceeds and damages. It is reported that Shin held cryptos before and after starting business which led to an increase of KRW 10 billion in unfair profits as well as insider trading. Additionally, CEO Kim Mo and another executive made about KRW 169 billion gains which were partially recovered by seizing KRW 114 billion worth of properties. The prosecution is working on recovering about KRW 79.1 billion and KRW 40.9 billion considered criminal proceeds respectively from KimMo and another executive.

Do Kwon’s Case

As updates concerning amounts seized from Terra suspects increase, Do Kwon also faces legal problems due to his involvement with the company as its co-founder . He was recently arrested and will face up to 5 years if found guilty of charges posed against him according to reports . Before his arrest he had registered a Serbian company indicating that he may have been trying to flee as a fugitive prior to his detainment . His detention has since been extended by Montenegro authorities who are investigating Do Kwon for any possible illegal activities .

Last November Seizure

The prosecution team had frozen KRW 100 billion along with CEO shin’s home and property last November as part of their investigation into suspicious activities surrounding Terraform Labs .


In conclusion , Korean authorities are continuing their efforts towards compensating those affected by the dramatic fall of Terra last year through seizure of assets connected with those suspected or involved with unfair practices at Terraform labs . In addition , Do Kwon , one of its co-founders , faces further legal issues due his involvement with the company which could result in up to 5 years jail time if found guilty on all charges posed against him .