South Korean authorities have launched an investigation into a Terraform Labs employee for allegedly embezzling bitcoins from the company
Police in Seoul allege that a Terraform Labs employee allegedly stole bitcoins from the company last May. Meanwhile, there is no hint of misconduct by Terra CEO Do Kwon, nor any indication of the amount of bitcoins stolen from the company.
Prosecutors recently questioned Terraform Labs employees who were involved in the earliest blockchain developments. Sources indicated that these employees were allegedly opposed to the launch of the UST Stablecoin because of its possible volatility.
Police have asked the exchanges used by employees to conduct transactions to freeze their accounts.
The Terra community is having a hard time right now, and these investigations can only make things worse. The recent leak of Terra’s secret chat room revealed the level of chaos that has reigned amid Terra’s resurgence.
As Terra tries to make a comeback with Terra 2.0 and the LUNA 2.0 token, more problems are arising. The network is experiencing turbulent times, characterized by dramatic price fluctuations and an increase in the number of users.