Terra co-founders face legal troubles in South Korea and US.
South Korean authorities are reportedly making a renewed attempt to arrest Shin Hyun-Seong, co-founder of Terraform Labs, following the recent arrest of his colleague Do Kwon in Montenegro. Shin has been accused of earning $105 million in profits from illegal sales of LUNA tokens before Terra's collapse, but he claims to have had no involvement in the company after January 2020. Arrest warrants have also been sought for three investors and four engineers. Charges against Shin include fraud, breach of duty, violation of capital markets law, and illegal fundraising.