The travel ban has been imposed to prevent Terra employees from fleeing the country to avoid investigation, according to JTBC.
The Seoul Southern District Prosecutor’s Office levied the departure ban in connection with the ongoing investigation against Terraform Labs for its role in the collapse of TerraUSD(UST).
JTBC reported that Terra founder and CEO Do Kwon is currently residing in Singapore. Therefore, the prosecutor’s office is looking to invalidate Kwon’s passport before further investigation. The prosecutors are also exploring whether Kwon and other Terra employees can be charged with crimes such as fraud.
The travel ban encompasses even former employees of Terra, as pointed out by Daniel Hong, a former developer at Terra.
stop asking me why i couldn't make it to NYC frens, this is why: the Korean government imposed an exit ban for all ex- @terra_money employees today pic.twitter.com/5Jds99ZNwQ
— Daniel Hong
License.
