After the fall of FTX, law enforcement still Addressing the Terra Blockchain debacle. According to a new report, Terraform Labs (TFL) co-founder Daniel Shin’s company, Chai Corporation, has been raided by South Korean investigators.
Terraform Labs co-founder company Chai reportedly raided by South Korean law enforcement
Terra blockchain collapsed last May was a crypto project co-founded by two individuals named Do Quon and Do Quon. Daniel Shin (Shin Hyun Seung). As with the FTX debacle, Shin has been a quiet partner like his FTX co-founder Gary Wang.
A report from Forkast details that the Seoul Southern District Public Prosecutor’s Office raided Shin’s company, his Chai Corporation. The company Chai is a payments company founded by TFL co-founder Shin, who is said to have been closely associated with TFL’s operations.
For example, on May 28, 2022, whistleblower Fatman published a thread claiming that Kwon was involved in a premine project. Fatman is said to have been leveraged by TFL to pre-generate a token called SDT for him and cash it out via his Chai using South Korean Won (KRW) tokens on the Terra blockchain. detailed.
Other reports expressed interest in Chai’s partnership with TFL after monitoring his relationship with the KRW token (also known as KRT). I was. Forkast details that thelocal report states that Chai’s KRW Token (KRT) feature was retired in his March 2022.
Forkast said on Monday that South Korean prosecutors said Shin had been found guilty of “breach of duty for unfair trade practices and violation of capital market law.”
Furthermore, according to South Korean law enforcement he reportedly left Shin’s home in July. Searched. Shin denied Premine’s allegations and said Chai Corporation had been separated from TFL since the first quarter of 2020.
LUNA price fixing. The KBS report further elaborates that Kwon is “currently an illegal immigrant” and may be hiding in Europe.
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