{"id":47111,"date":"2023-03-27T06:05:27","date_gmt":"2023-03-27T10:05:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=47111"},"modified":"2023-03-27T06:05:29","modified_gmt":"2023-03-27T10:05:29","slug":"south-korean-officials-intensify-efforts-to-arrest-other-terra-co-founders","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/south-korean-officials-intensify-efforts-to-arrest-other-terra-co-founders\/","title":{"rendered":"South Korean officials intensify efforts to arrest other Terra co-founders"},"content":{"rendered":"\n

Following the arrest of Terraform Labs<\/a> co-founder Do Kwon in Montenegro, South Korean officials have intensified attempts to locate and arrest Shin Hyun-Seong, also known as Daniel Shin \u2013 Terra's other co-founder.<\/p>\n\n\n\n

\"South
South Korean officials intensify efforts to arrest other Terra co-founders<\/figcaption><\/figure>\n\n\n\n

Since November 2022, South Korean authorities have suspected multiple Terra colleagues of aiding Do Kwon in promoting unstable and uncertain Terra (LUNA) and TerraUSD (UST) token investment prospects.<\/p>\n\n\n\n

\n

Translation from Montenegro Minister of Interior Filip Adzic – \u201cONE OF THE WORLD'S MOST WANTED FUGITIVES WAS ARRESTED IN PODGORICA

Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon\u2026\u201d https:\/\/t.co\/sCJ0FFrlEk\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Simon Dixon (@SimonDixonTwitt) March 23, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Bloomberg says that after Kwon's arrest on March 23, 2023, South Korean prosecutors are launching a new attempt to arrest Shin. It states that the prosecutors are redoubling their efforts to apprehend Shin. In this regard, however, no formal declaration has been made public.<\/p>\n\n\n\n

Prior to Terra's collapse, authorities alleged that Shin profited approximately $105 million via the unlawful selling of LUNA tokens<\/a>. Shin, on the other hand, asserts he was no longer involved with Terra after January 2020, as demonstrated by his LinkedIn profile.<\/p>\n\n\n\n

\"\"
Co-founder of Terraform Labs, Daniel Shin\u2019s professional experience overview. Source: LinkedIn<\/figcaption><\/figure>\n\n\n\n

In addition to Shin, three investors, and four engineers were subsequently sought for arrest warrants<\/use><\/svg><\/span><\/a>. The co-founder is accused of fraud, breach of duty, violation of capital markets law, and unlawful fundraising.<\/p>\n\n\n\n

Kwon was imprisoned for the normal 72 hours by Montenegrin officials after being apprehended with counterfeit travel documents. In response to a plea from the police, the Montenegro court extended Kwon's incarceration by 30 days.<\/p>\n\n\n\n

One of Kwon's attorneys intends to challenge the court's ruling and request a reduction in his incarceration period on the grounds that there was no intent to employ forgeries. The court deemed Kwon to be a foreign national whose identification was unclear.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the arrest of Terraform Labs co-founder Do Kwon in Montenegro, South Korean officials have intensified attempts to locate and arrest Shin Hyun-Seong, also known as Daniel Shin \u2013 Terra’s other co-founder. Since November 2022, South Korean authorities have suspected multiple Terra colleagues of aiding Do Kwon in promoting unstable and uncertain Terra (LUNA) and […]<\/p>\n","protected":false},"author":12,"featured_media":47170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[9684,7787,1712,8081],"class_list":["post-47111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-do-kwon-2","tag-luna-2","tag-south-korea","tag-terraform-labs-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/03\/image-65.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/47111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=47111"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/47111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/47170"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=47111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=47111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=47111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}