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Terra Co-Founder's Home raided by South Korean authorities

Maniés

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South Korean prosecutors have raided the home of Daniel Shin, co-founder of Terraform Labs, as the authorities there continue a probe into illegal activity behind the collapse of the TerraUSD stablecoin. There were several raids on crypto exchanges and offices Wednesday (July 20), Bloomberg reported Thursday, including Shin’s payment app Chai Corp., according to the Seoul Southern District Prosecutors Office.

Shin is the latest stakeholder to be raided by Korean authorities. Earlier this week, major South Korean crypto exchanges, including Bithumb and Upbit, were raided by authorities. In June, prosecutors implemented a travel ban on dozens of people connected to Terraform Labs, including former staff members.
 

Concurrently, prosecutors are also investigating allegations of tax evasion by Terraform Labs founder Do Kwon.
Both Shin and Kwon have addresses in Singapore, though it's unclear if they reside there full time.

South Korea fines 23 shippers, with $81mil on price fixing - MaritimeCyprus

 

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