Terra Co-Founder Daniel Shin Indicted for Fraud in South Korea
TL;DR Summary
South Korean prosecutors have charged Daniel Shin, co-founder of the company behind the failed TerraUSD and Luna cryptocurrencies, with violating capital-markets laws. The charges are part of the latest legal action following a crash that wiped out some $40 billion in value from digital-currency markets last year. The prosecutors have charged 10 people, including Shin, saying individuals involved with Terraform Labs Pte. Ltd. had reaped at least 462.9 billion won, equivalent to around $346 million, in profits by selling off their cryptocurrencies before the crash.
- South Korea Indicts Co-Founder of Failed TerraUSD Cryptocurrency The Wall Street Journal
- Terra co-founder Daniel Shin charged with fraud in South Korea The Verge
- Terra blockchain founder Daniel Shin indicted in South Korea Engadget
- S Korea indicts Terraform Labs co-founder, 9 others Bangkok Post
- Terra Co-Founder Daniel Shin Indicted in South Korea: Bloomberg CoinDesk
Reading Insights
Total Reads
1
Unique Readers
2
Time Saved
0 min
vs 1 min read
Condensed
48%
162 → 85 words
Want the full story? Read the original article
Read on The Wall Street Journal