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Luna: In Korea, the police ask for a freeze on LFG’s assets

After the Terra fiasco and the collapse of the Luna and UST tokens, the Korean police have reportedly called for a freeze of all Luna Foundation Guard assets starting with the crypto exchange platforms.

The controversy surrounding the collapse of Terra and the involvement of various actors continues to weigh on the ecosystem as no day goes by without new information on the subject. Recently, Korean media outlet KBS reported that the Korean police have taken steps to freeze the funds of the Luna Foundation Guard (LFG).

According to the publication, the Seoul Metropolitan Police Agency has asked several crypto exchange platforms to make it impossible to withdraw funds from the LFG.

It is interesting to note that the exchanges are not required by law to comply with this request, which remains a simple request. It is currently impossible to say whether such a sanction will be implemented on any of the main platforms.

The police request to freeze LFG’s funds comes on top of a tax evasion case announced earlier, as well as a hearing proposed by a South Korean MP who wants to hear from Terra (Luna) founder Do Kwon at a parliamentary session.

Also in connection with the recent collapse of the Terra ecosystem, Korean lawmakers are meeting this week with representatives of the five largest crypto exchange platforms in Korea (Upbit, Bithumb, Coinone, Korbit and Gopax) to learn more about their responsibility for their users’ losses.

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