New allegations: Terra operated price manipulation and money laundering on a large scale

The allegations against the crashed Terra Luna project continue.

According to a new report by Coindesk Korea , the firm behind the blockchain ecosystem, Terra Labs, has engaged in large-scale price manipulation and money laundering.

A total of $3.6 billion in stablecoins was parked for these purposes in the form of UST, its own currency, and the stablecoin USDT (Tether).

Coindesk Korea, along with security firm Uppsala Security, analyzed on-chain data from Terra wallets. It found “dubious money flows” between decentralized marketplaces and centralized crypto exchanges like Binance .

It is said that one still has to compare one's own information with the internal data of the centralized exchanges in order to be able to speak with complete certainty of criminal activities.

The South Korean authorities have been investigating Do Kwon , the founder of Terra, for weeks.

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