South Korean authorities allege that Terraform Labs co-founder Shin Hyun-Seong (Daniel Shin) held LUNA without the knowledge of individual investors before the collapse.
A local news agency reported on November 14 that the Seoul Southern District Attorney’s Office Financial and Securities Crime Investigation Teamsummoned Hyun-Song to testify this week over allegations that he was holding LUNA and selling them at a high price without the knowledge of investors before the LUNA collapse.
Prosecution about illegal sales of Terraform founder 140 billion won worth 105 million dollars claimed to have won.
Hyun-Song’s lawyer, his client’s LUNA at a high point make a profit by selling and other by illegal means He denied the allegations that he made a profit.
On the other hand, according to the information on his LinkendIn profile, Hyun-Song’s from January 2020 Since then, it has been seen that he has no relationship with Terraform Labs. However, the founder the fate of their investments in the company Couldn’t find information about. Hyun-Song, after Terraform, the Fin-Tech firm he is currently CEO of Chai Corporation founded.