ChainCatcher news, according to Bloomberg, a U.S. judge ruled that the U.S. Securities and Exchange Commission (SEC) can seek assistance from the South Korean government to question Terraform Labs co-founder Daniel Shin and collect evidence from payment company Chai Corp. The SEC hopes to use this to help prove its allegations that Terraform and its former CEO Do Kwon engaged in an illegal scheme that resulted in at least $40 billion in cryptocurrency losses.

ChainCatcher news, the Southern District Prosecutors' Office of Seoul, South Korea, has prosecuted Daniel Shin and 7 other managers and staff related to the Terra project without detention on suspicion of fraudulent and improper trading under the Capital Markets Act. The South Korean prosecutors have referred the case to trial involving Terraform Labs co-founder and former CEO of Chai Corporation, Daniel Shin, among others.In the indictment, South Korean prosecutors stated that Daniel Shin and others involved minted "investment contract securities" Luna tokens from April 2019 to May 2020, but distributed and sold them to investors without submitting a securities report. Daniel Shin is accused of: violating the Capital Markets Act (improper trading, violation of public offering regulations, unlicensed sales), violating the Specific Economic Crimes Act (fraud, breach of trust, embezzlement), violating the Specific Financial Transaction Information Act, violating the Electronic Financial Transactions Act, forgery of receipts, dereliction of duty, and commercial breach of trust. (source link)

ChainCatcher news, according to South Korean media ilyo, the Seoul Southern District Court rejected the prosecution's appeal for the confiscation request against Terraform Labs co-founder Daniel Shin, ruling that the cryptocurrency Luna is not a security.The court stated, "It is difficult to conclude that Luna Coin is a financial investment product regulated by the Capital Markets Act." Other courts in the Southern District also expressed reservations about whether Luna is a security when rejecting the arrest warrant, including "jurisprudentially controversial" and "whether it can be used is questionable under the Capital Markets Act." (source link)

ChainCatcher news, the Southern District Court of Seoul, South Korea, began the arrest review of Daniel Shin, co-founder of Terra and former CEO of Chai Corporation, at 10:30 local time.Previous news, on March 27, South Korean prosecutors pushed for the arrest of Terra co-founder Daniel Shin again. (Source link)

ChainCatcher news, according to Bloomberg, South Korean prosecutors are pushing for the arrest of Terraform Labs co-founder Daniel Shin again. Previously reported, at the end of November last year, the South Korean prosecution had applied for a pre-arrest warrant for Terra co-founder Daniel Shin and seven others, but the warrant was rejected by the court. (Bloomberg)

ChainCatcher news, Terraform Labs Pte. Ltd. co-founder Daniel Shin and seven other Terra partners attended a court hearing in South Korea. It is reported that South Korean prosecutors have accused Shin Dong-hyuk and others of violating the Capital Markets Act and the Electronic Financial Transactions Act, allegedly committing fraud.According to prosecutors, Shin Dong-hyuk is suspected of illegally profiting over 140 billion won (approximately 107 million USD) through the LUNA cryptocurrency, promoting the Terra stablecoin as a payment method despite multiple warnings from regulators, and misusing Chai company users' private information to promote Terra-LUNA. Shin Dong-hyuk founded and served as CEO of the payment technology company Chai in 2019, but reportedly resigned earlier this year.Shin denied these allegations, stating that he sold over 70% of his LUNA holdings before the price surge and still held a significant amount of LUNA stock during the bankruptcy of LUNA in May. Shin also claimed that financial authorities had never expressed disapproval of incorporating cryptocurrency into e-commerce payments. (source link)

ChainCatcher news, according to Yonhap News Agency, the Seoul prosecution has requested pre-arrest warrants for Daniel Shin, co-founder of Terra, and 7 others, accusing them of fraud, breach of duty, and violations of capital market laws. Among them, 4 are early investors in Terra Luna, and the other 4 are key personnel in the technical development of Terra and Luna.Prosecutors believe that the design of earning 20% interest by depositing in Anchor is inherently fraudulent, and that the former CEO's sale of Luna for a profit of 140 billion won during the price surge constitutes improper profit. (source link)

ChainCatcher news, according to the Global Economic Daily, Daniel Shi told South Korean prosecutors in a Thursday investigation that he did not sell LUNA at a high point.Earlier reports indicated that the Southern District Court of Seoul approved local prosecutors' request 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. (forkast)

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)

ChainCatcher news, the Seoul Southern District Prosecutor's Office raided Chai Corporation, a payment technology company founded by Terraform Labs co-founder Daniel Shin.It is reported that Chai had established a partnership with Terraform Labs to integrate the Terra Korean Won Stablecoin KRT into its payment services. Prosecutors allege that the company used customers' personal information to launch the service without consent. Additionally, earlier this week, the prosecutor's office summoned Daniel Shin to investigate whether his actions of storing pre-issue LUNA without notifying ordinary investors and then selling the tokens for a profit of $106 million violated capital market laws. (source link)

ChainCatcher news, cryptocurrency and financial researcher FatMan tweeted that South Korean prosecutors have summoned Terra co-founder Daniel Shin to participate in an investigation into insider trading, price manipulation, and violations of obligations to Chai customers. Prosecutors stated that Shin violated local securities laws and illegally cashed out over $100 million from LUNA. (source link)