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Upbit, Bithumb among Korean crypto exchanges hit in Terra fraud raid

Korean authorities raided the exchanges in a bid to uncover whether the Terra collapse was intentionally caused by Do Kwon.

Terra team held in South Korea as Do Kwon named in securities lawsuit

The suit alleges defendants, which also include Terraform Labs, conned investors by failing to register tokens as securities with the SEC.

The UST co-founder was accused of siphoning off $2.7 billion in 33 monthly withdrawals of $80 million each.

A US Second Circuit court has rejected pleas by Terra LUNA’s founder Do Kwon to ignore a SEC subpoena he received last year.