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

A neighborhood courtroom in South Korea denied the prosecutor’s request to concern an arrest warrant for Terraform Labs co-founder Shin Hyun-Seong, also referred to as Daniel Shin. This was the second try made by South Korean authorities to reign in Shin following the current 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 faux paperwork to fly overseas. The Seoul Southern District Prosecutors Workplace took benefit of this case and, on March 27, requested an arrest warrant for Shin, citing his involvement in cashing in illicit earnings from (LUNA) and TerraUSD (UST) gross sales.

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