At the hearing held in South Korea a short time ago, the court Terra (LUNA) altcoin He had refused his co-founder Daniel Shin’s request to be arrested.
In addition, the arrest requests of 9 other names associated with the company were likewise turned down by the court.
“Court Verdict Reveals Terraform Labs Employees Not Guilty”
Terra’s official Twitter account evaluated the issue after the latest development and made the following statements:
“More than 98% of arrest warrant requests in South Korea are approved by the courts.
The Seoul Southern District Court’s decision on December 3 to deny arrest warrant requests against former Terraform Labs employees once again reveals the falseness of prosecutors’ allegations.
South Korean prosecutors have so far requested nine detention warrants on alleged Terraform Labs charges, all of which have been dismissed by the courts.”
1/ Over 98% of detention warrant requests get *approved* by courts in South Korea.
The Seoul Southern District Court’s ruling on Dec. 3rd to *reject* detention warrant requests for former TFL employees once again illustrates the unfounded nature of the prosecutors’ claims. https://t.co/FKDWB4YHKb
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) December 3, 2022
In addition, the official LUNA account quoted a South Korean local prosecutor’s speech about the incident:
“Prosecutors’ arguments linking Securities and Exchange Act violations to Terra Luna (Classic) appear weak, and the court seems to have ruled that they may not be justified.”
However, after these Tweets, a message was published from the official account that the Terra ecosystem will continue to be worked on:
“Terraform Labs is focused on the future of Terra, including developing Web3 best solutions to bring a blockchain ecosystem to life and scale.”
However, Fatman, an anti-LUNA analyst, said:
“The low-level employees, especially those who left the company years ago, are probably innocent. Why do they need to be arrested?
Do Kwon’s arrest warrant is still active. He evades Interpol and refuses a fair trial in Korea or the United States. Why? If you’re innocent, stop running.”
*Not investment advice.
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