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South Korea seizes $104M from Terra co-founder suspecting

Terra Co-Founder Daniel Shin Appears in South Korean

South Korean authorities seize Terra co-founder's assets worth

South Korea

The decision to freeze Shin’s asset worth over $104 million was approved by the Seoul Southern District Court, which was based

South Korea’s prosecutors have reportedly obtained a court order to freeze assets worth about $104 million belonging to Terraform Labs co-founder Daniel Shin. The authorities allege that

South Korea Seizes Over $100 Million from Terra’s Co

Shin

⁠South Korea seizes $104M from Terra co-founder suspecting unfair profits. The decision to freeze Shin’s asset worth over $104 million was approved by the Seoul Southern District

Shin’s defence has denied reports that he “sold Luna at a high point and realized profits or that he made profits through other illegal methods”.

Nearly six months after the Terra blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin

The Prosecution

Terra Co-Founder Denies Making $100M Worth Unfair

South Korea seizes $104M from Terra co-founder

The prosecution’s request is part of an ongoing investigation against Hyun-Seong for allegedly making profits illegally while launching the Terra ecosystem-related assets. At the same time

⁠South Korea seizes $104M from Terra co-founder suspecting

Terra’s Co-Founder Reportedly Sold 70% LUNA Before

South Korea Freezes $104 Million in Assets Belonging to Terra Co