Even as the South Korean authorities try to probe the disastrous Terra crash, a new development took place in this regard on Monday. The latest action appears to be a cautious move to prevent any further loss of Terra funds and investor money.
The South Korean police have reportedly taken measures to freeze the Luna Foundation Guard’s ( LFG ) money. The LFG supports Terra cryptocurrency, which took a more than 99% hit due to an unexpected meltdown on May 12.
The police measures come after the controversy surrounding Terrra continues, as a vote on founder Do Kwon’s second revival plan continues.
Protecting Terra Funds
According to South Korea’s national media outlet KBS,
“The Seoul Metropolitan police agency’s first cybercrime investigation unit said it had recently requested each exchange to “freeze” Luna Foundation Guard from withdrawing corporate funds from accounts held on cryptocurrency exchanges.”
