Crash LUNA: Korean justice confiscates $100 million from the co-founder

One crash can hide another – The earthquake FTX to multiple aftershocks would almost pass the collapse of the ecosystem Terra (LUNA) for a news item. Yet the ghosts of this event occurred last may continue to haunt the cryptocurrency industry with bankruptcies cascading that have weakened a lot of financial players.

And what about the behavior of Do Kwonfounder of the project, which feeds the chronicles judicial from all over the world with an over-mediatized run and who is likely to contend for the title of most hated character in crypto to Sam Bankman-Fried in 2022. Today, we are interested in Shin Hyun-Seongalso in the sights of South Korean justice for his involvement in LUNA.

South Korean justice continues its investigations on LUNA

While the interest of the specialized media shifted to the case FTXSouth Korean justice continues to do its job in that about LUNA. And, it is the first continuous news channel in the country, YTNwhich revealed at the end of last week that justice is more and more interested in Shin Hyun-seongwhich is also called Daniel Shin.

The Southern District Court of Seoul thus ordered the seizure of 100 millions dollars from this gentleman’s personal funds, at the request of the prosecutors in charge of the case. This sum will be goo pending the final decision of tribunalit is, in fact, a conservation pre-indictment which will prevent the suspect from freely enjoying the supposed fruits of his crime.

Continuation of the Terre (LUNA) affair with the questioning of another leader

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Do Kwon is virtually less alone in the dock

But, what exactly does justice reproach the co-founder of Terra (LUNA)? According to details from local media, Shin Hyun-seong has of them caps in this trial. First of all, as leader of the project, he would have sold LUNA tokens just before the collapse of the house stablecoin enjoying the passage of a pretty plus-value. But, more than that, he would also have kept a large amount of chips pre-issued without informing anyone before reselling them at the top of the market. which is totally illegal.

But he was also the director general of the company Chai Corporationwhich is a Korean FinTech payment platform founded by… Terraform Labs. And it is for this reason that a search took place at the company’s premises to make the light on the allegations ofutilisation personal data of Chai customers on behalf of Terra. Reaction of interested parties in the press:

“Chai has been operating independently from Terra since Q1 2020, when our marketing partnership was put on hold. Since then, it has had an independent team and equally independent operational governance. Daniel will cooperate fully with the ongoing investigation to clarify misunderstandings and address these speculations. »

We are not at the end of our surprises in this affair at drawers. Between the protagonists leak and those who hide behind their lawyers to try to hide their bad faith obvious, the court will find it very difficult to shed full light on the sequence of events and on all dubious practices of the CEO on the run.

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