Seoul South District Court Freezes $93 Million in Assets of Former and Current CEOs of Terra Subsidiary Kernel Labs

According to local media reports in South Korea, the Southern District Court in Seoul, South Korea, at the request of the prosecution, froze the property of three early investors in Terra and Luna and four key personnel in technology development, including the former and current chief executive of Kernel Labs, a subsidiary of Terraform Labs. The executive's 120 billion won assets (approximately 93 million US dollars), among which, 40.9 billion won of illegal profits of the former CEO of Kernel Labs were frozen, and 79.1 billion won of illegal gains of the current CEO of Kernel Labs were frozen. The seven were accused of selling pre-release LUNAs for huge profits.