$160 Million Worth of Terra Employees' Property Seized: Report

The collapse of Terraform Labs continues to have repercussions. Recent reports indicate significant action by South Korean authorities, with prosecutors seizing property linked to former employees. According to an April 3 report from South Korean news outlet KBS, authorities seized roughly 210 billion won – approximately $160 million at the time of publication – worth of property connected to former Terra workers.

The Seoul Southern District Prosecutor's Office has reportedly taken control of houses and properties connected to the collapse of Terraform Labs, including co-founder Daniel Shin. The total value of seized property amounts to 210 billion won, or about $160 million at the time of writing.

Most of it consists of real estate. Authorities seized nearly $160 million in property associated with former Terra workers, primarily in the form of real estate. Prosecutors allegedly took possession of houses belonging to these individuals.

Prosecutors in South Korea have seized property tied to eight Terraform Labs employees to ensure they remain a part of potential criminal proceedings. According to a report from local media publication KBS News, the financial and securities crime division from the Seoul Southern District Prosecutors Office collected 210 billion won.

The unnamed executive Prosecutors in South Korea have seized property tied to eight Terraform Labs employees. The legal ramifications of the Terra collapse are still unfolding, and this property seizure represents a significant step in the ongoing investigation.