Terra Co-Founder Daniel Shin Indicted for Cryptocurrency Fraud in South Korea

Daniel Shin, co-founder of Terraform Labs, has been charged with fraud, breach of duty, and embezzlement in connection with the collapsed Terra and Luna cryptocurrencies. Nine other people with ties to Terra have also been indicted. South Korean authorities have frozen a total of 246.8 billion won (about $184.7 million) in assets from the individuals charged. Shin's lawyer claims he has nothing to do with the collapse and has been cooperating with the probe for over 10 months.