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Media: South Korea’s authorities searched for the co -founder of Terraform Labs


Dec 19, 2022

Media: South Korea’s authorities searched for the co -founder of Terraform Labs

The South Korean prosecutor’s office conducted searches in the payment company Chai Corporation, founded by the co -founder of Terraform Labs by Daniel Shin. This is reported by Forkast.

Law enforcement officers allegedly accuse the Chai and its founder of using personal data of customers without their consent when starting a service based on Korean Coon CRT from Terraform Labs.

The payment company stopped using the option since March 2022. Shin claims that he tore off relations with Terraft Labs and her CEO to Kvon in 2020.

In the framework of the current case, the prosecutor’s office called the tire as the founder and the chapter of Chai as a suspect in violation of the law on capital markets and abuse of office.

Additional accusations relate to illegal earnings on Terra cryptocurrency (luna). According to the https://gagarin.news/news/ufc-fighter-luana-pinheiro-will-be-paid-in-bitcoin/ authorities, the tires received a coin pre -issued without notifying ordinary investors and sold them at a peak, earned 140 billion won (~ $ 106 million).

“This is the problem of the premane. They did not properly disclose information during the emission of token. [For example], if investors think that 1000 coins are produced, but in fact there are 10,000, then their losses are inevitable, ”commented South Korean consultant for cryptocurrencies, Professor Donguk, Donguk Song Jin.

Since May, the authorities have been investigating the Terra ecosystem, which served as a trigger to fall cryptonnik.

Recall, on September 14, in South Korea, they issued an arrest warrant of Kwon and five more TerRaform Labs employees on charges, including violations of capital laws.

The prosecutor’s office applied to the Ministry of Foreign Affairs for canceling the passports listed in it. The department satisfied the request of law enforcement officers and ordered Kvon to return the passport within 14 days.

The authorities also asked Interpol to start the search and allow the detention of the co -founder of the company.

In November, the media reported that the prosecutor’s office received evidence of manipulating before Kwon at the cost of Luna.

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