TechFlow News — On Thursday, the Southern District Court of Seoul, South Korea approved a local prosecutor's request to freeze approximately $104 million in assets belonging to Daniel Shin, co-founder of Terraform Labs. Local authorities allege these assets were obtained illegally through the cryptocurrency LUNA. Earlier on Thursday, Shin underwent an investigation by the local prosecutor’s office over allegations of violating capital markets laws and breach of fiduciary duties.
According to earlier reports, the Seoul Southern District Prosecutors’ Office conducted a raid on Chai Corporation, a payment technology company founded by Daniel Shin, co-founder of Terraform Labs. Chai had partnered with Terraform Labs to integrate the Terra Korean won-pegged stablecoin KRT into its payment services. Prosecutors allege that the company used customers' personal information to launch the service without proper consent.Original link
