bitcoin price update, crypto price analysis , crypto news update, cryptocurrency news, crypto market news update
Key Takeaways
- Daniel is the second of the two founders of #Terraform Labs which collapsed last year
- Do Kwon was arrested while onboarding a flight with fake documents in Montenegro
Right after arresting the most wanted Co-Founder of #Terraform Labs, Do Kwon, the South Korean investigative agencies are pushing to detail the other Co-Founder.
According to a report published by Bloomsberg, the South Korean authorities have paced up their efforts to arrest Shin Hyun-Seong, aka Daniel Shin. Daniel is the second of the two founders of Terraform Labs which collapsed last year, hurting the markets with losses of billions and pushing the industry to an extreme #crypto winter.
After the collapse, both the Co-Founder had been on a run until last week when Do Kwon was arrested while onboarding a flight with fake documents in Montenegro. Followed by this, the prosecutor’s office in Seol confirmed that the agency is putting in fresh attempts to arrest Daniel Shin but refused to share anything more than that.
According to Shin's lawyers, he parted ways with #Terraform Labs in 2020 and has not been involved in its operations since then. In December, a South Korean court denied prosecutors' initial attempt to obtain an arrest warrant, stating that it was unlikely for Shin to flee or tamper with evidence.
Earlier, prosecutors in Seoul had alleged that Shin had committed fraud, breached his duty, violated capital markets laws, and conducted illegal fundraising, potentially leading to charges against him.
To read more such interesting news, keep reading #CoinGabbar.com and share your views in the comments down below.
Read, Also - First Citizens Bank Acquires Silicon Valley Bank: When to Withdraw Your Funds?