Several employees of South Korea-based Terraform labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said.
TerraUSD’s paired token, Luna, plunged in value last month, sparking a sell-off and igniting a chain reaction that has pushed some major institutions in the crypto sector into severe difficulties. TerraUSD was meant to be pegged 1:1 to the US dollar.
