The assets of Terra executives, including Kwon Do-hyung, have been seized by Korean authorities for at least 414.5 billion won. Do Kwon, however, has no property in Korea.
Nine Terraform Labs executives, both past and present, are accused by South Korean authorities of illegally earning 414.5 billion won (about $314.2 million) from the project. The procedure of freezing assets is the initial step in reclaiming stolen property.
The estimated value of the illegal gains made by CEO Kwon, a significant member of Terra, was 91.4 billion won.
Shin Hyun-seung, also known as Daniel Shin, is a co-founder of Terraform. Local prosecutors have seized his assets, including real estate and imported vehicles. Daniel Shin was charged with fraudulently earning more than 154 billion won from the Terra-Luna project by the nation's prosecutors.
Former CEO of Chai and co-founder Shin Hyun-seong stated that 154.1 billion won and 169 billion won for the remaining 7 Terra workers.
However, it has been proven that none of the assets owned by the company's key founder and CEO, Do Kwon, are subject to Korean law.
Do Kwon appears to have transferred a sizeable chunk of his money to foreign cryptocurrency exchanges in exchange for Bitcoin. According to the prosecution, they requested that Binance halt Do Kwon's cryptocurrency withdrawal.
According to earlier reports, Korean authorities searched and seized more than $200 million worth of Terra executives' and employees' property.
Prosecutors have also frozen the real estate, automobiles, and stock holdings of the case's initial investors and employees. According to the prosecution, they requested Binance, the biggest exchange in the world, to prevent the withdrawal of a cryptocurrency controlled by CEO Kwon.
