The South Korean court freezes approximately $104 million in assets of Terra co-founder Daniel Shin

2022-11-17 18:51:10

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ChainCatcher news, according to Forkast, the Southern District Court of Seoul, South Korea, approved a request from local prosecutors on Thursday to freeze approximately $104 million in assets belonging to Terraform Labs co-founder Daniel Shin. Local authorities believe these assets were illegally obtained through the LUNA cryptocurrency.

ChainCatcher previously reported that earlier this week, the prosecutor's office summoned Daniel Shin to investigate whether his actions of storing pre-issuance LUNA without notifying ordinary investors and then selling the tokens for a profit of $106 million violated capital market laws. The Seoul Southern District Prosecutor's Office conducted a raid yesterday on Chai Corporation, a payment technology company founded by Daniel Shin. (Forkast)

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