Fraud Allegations at LUNA Don’t Stop! 104 Million Dollars of LUNA Founder Seized!

Yesterday, South Korean prosecutors Terraform We reported that Labs co-founder Daniel Shin raided Chai Corporation, of which he was a partner.

There were new developments regarding the raid today.

South Korea’s Seoul Southern District Court today approved a request by prosecutors to freeze the assets of US$104 million belonging to Terraform Labs co-founder Daniel Shin, local news agency YTN reported.

South Korean judicial authorities collapsing Danil Shin’s assets altcoin believes he has earned illegally through his project.

shin, terra He is being investigated for making unfair profits in the process of launching his cryptocurrency and leaking personal information of customers of his other company, Chai, of which he is a partner, to Terraform Labs.

In this context, prosecutors said that Shin obtained before he was formally dismissed and made an appropriate disclosure to investors. LUNAHe believes that by selling the .

Shin is also facing breach of duty charges for allegedly leaking the personal transaction information of his customers in Chai to Terraform Labs.

Terraform Labs CEO Do Kwon Also, the fact that Shin is under investigation and LFG’s TOP regarding his spending Terra-LUNA He took to Twitter to express his sadness over the collapse of cryptocurrencies.

In his post, Do Kwon argued that he and his team did not engage in any fraudulent activities in the Terra project.

1/ A third party audit of LFG and TFL’s peg defense activity during May 2022 has been published: https://t.co/3vwSBhQcNq

— Do Kwon 🌕 (@stablekwon) November 16, 2022