After Nguyen du Quan, co-founder of Terraform Labs, was arrested at Meihekou when he tried to use fake documents to walk to the airport, South Korean authorities began efforts to arrest Shin Hyun-sung, also known as another co-founder of Daniel Shin-Terra.
Since November 2022, South Korean authorities have suspected that a number of Terra friends have participated in the use of Terra (Luna) and TerraU.S. (UST) tokens to help du Quan market unstable and uncertain investment opportunities.
However, according to a Bloomberg news agency, South Korean prosecutors will launch a new arrest attempt against Shin Dong-hyuk after Kwon was arrested on March 23, 2023. It wrote that prosecutors had once again promoted the detention of Shin. However, no official announcement has been made in this regard.
The authorities had previously claimed that before Terra went bankrupt, Shin made a profit of about $105 million from the illegal sale of Luna tokens. On the other hand, Shin claims that it did not participate in Terra after January 2020, as you can see in your profile on LinkedIn.
Arrest warrants were then issued against Shin and its three investors and four technical engineers. The charges against the co-founder include fraud, breach of job duties, violation of financial market laws and regulations and illegal financing.
After being seen using fake travel documents, Prime Minister Quan was detained by the Meihekou authorities for 72 hours. However, at the request of the authorities, the Meihekou Court granted an additional 30 days of detention for the prime minister.
One of the laws and regulations of the Prime Minister of Power means that it claims that there is no intentional application of false documents, and the plan appeals against the court's decision and seeks to reduce the duration of detention. The court felt that Quan was a foreign Chinese citizen of unknown origin.
Magazines and periodicals: "Terra brings us an incredible blow": infiltrating laboratory Sunny Aggarwal
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