South Korea, US officials discuss sharing data in crypto investigations: Forkast

South Korea’s Justice Minister Han Dong-hoon met with US investigators in New York last week amid the countries’ separate probes into Terraform Labs and its co-founder Do Kwon, Forkast reported, citing a statement from South Korea’s Ministry of Justice.

The minister met with Andrea Griswold, co-chief of the Securities and Commodities Task Force, and Scott Hartman, chief of the Securities and Commodities Fraud Task Force, at the US Attorney’s Office for the Southern District of New York, the report said.

The officials discussed ways to share data on crypto investigations between the Seoul Southern District Prosecutor’s Office and the Southern District of New York office, Forkast said, citing a media release.

The Seoul Southern District Prosecutor’s Office is investigating Terraform Labs and CEO Do Kwon in a possible fraud case, Forkast said.

The US Securities and Exchange Commission (SEC) won a case against Terraform Labs and Do Kwon last month establishing jurisdiction in a federal securities investigation.

A class action lawsuit was filed last month in US District Court, Northern District of California, accusing Do Kwon, Terraform Labs and others of selling unregistered securities and making false statements about the stability of the TerraUSD (UST) stablecoin and related token luna to induce investors to purchase them.