The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement.
Unusual Relationship: Report Claims Terraform Labs and South Korean Payment Firm Chai Under U.S. Investigation
After the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Terraform Labs and its CEO, Do Kwon, accusing them of fraud and orchestrating “a multibillion-dollar crypto-asset securities fraud,” the DOJ and FBI are allegedly investigating Terraform Labs. The Wall Street Journal’s Alexander Osipovich reports that people familiar with the matter have detailed that the FBI
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