Terra co-founder Daniel Shin’s arrest denied by courtroom, citing low flight danger

An area courtroom in South Korea denied the prosecutor’s request to concern an arrest warrant for Terraform Labs co-founder Shin Hyun-Seong, often known as Daniel Shin. This was the second try made by South Korean authorities to reign in Shin following the latest arrest of Do Kwon — Terra’s different co-founder.

On March 23, Kwon was arrested at Podgorica airport in Montenegro whereas trying to make use of pretend paperwork to fly overseas. The Seoul Southern District Prosecutors Workplace took benefit of this example and, on March 27, requested an arrest warrant for Shin, citing his involvement in cashing in illicit income from (LUNA) and TerraUSD (UST) gross sales.

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