Terraform Labs owes $78.5 million in unpaid taxes to South Korea's Tax office

On May 19, Watcher.Guru posted on social media that Terraform Labs currently owes $78.5 million in taxes to the South Korean Tax Office. Terraform Labs paid 100 billion won ($78.68 million) in taxes to the Korean Tax Office at the end of 2021, According to a report by Law. The headquarters of Terraform Labs Korea was liquidated on May 4, 2022, and its Seoul branch was liquidated on May 6. It is unclear whether the liquidation of its domestic companies is related to the tax.