The Southern District Prosecutor’s Office in Seoul said Wednesday it was seeking an arrest warrant for Daniel Shin accused of illegally profiting from Terra, the blockchain ecosystem overseen by Terraform Labs, before its meltdown. May according toreportfrom Yonhap news agency
The same officer reportedly raided the offices of Chai Corporation, a payment technology company founded by Shin, earlier this month. which was previously South Korean authorities have issued an arrest warrant for Terraform Labs founder Do Kwon, its CEO, and asked Interpol to issue a red notice for Kwon’s arrest, despite Kwon claiming he was not on the run.
The District Attorney’s Office in southern Seoul also issued arrest warrants for three other Terraform Labs investors and four engineers, according to Yonhap, adding that prosecutors believe Shin made 140 billion won (about $105 million) in illegal profits. ) from selling luna
However, Shin told Yonhap in a written statement that he left Terraform Labs two years before the crisis and was “not involved in the project’s collapse.”
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