Do Kwon hires lawyers in preparation for Terra probe

Terraform Labs co-founder Do Kwon has reportedly hired a lawyer from a domestic law firm in South Korea.

Days earlier, Do Kwon claimed the South Korean authorities are yet to reach out to him or file any charges against him.

Local media reports have it that Kwon recently submitted a letter of appointment to an attorney at the Seoul Southern District Prosecutors’ Office.

The Office is currently investigating the Terra-LUNA — now renamed Terra Classic (LUNC) — collapse.

Prosecutors in South Korea behind the investigation of Terraform Labs reportedly executed a search and seizure in 15 firms in the third week of July.

Prosecutors reportedly notified Kwon, who was staying in Singapore and banned the departure of key people.

South Korean authorities began an investigation into the $40 billion Terra ecosystem collapse soon after the ecosystem’s implosion in May.

In June, the authorities began a formal investigation into the incident and found Terraform Labs guilty of tax evasion and market manipulation.

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