{"id":518451,"date":"2022-11-30T11:12:04","date_gmt":"2022-11-30T08:12:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/south-korea-issues-arrest-warrant-for-do-kwons-former-colleagues\/"},"modified":"2022-11-30T11:12:04","modified_gmt":"2022-11-30T08:12:04","slug":"south-korea-issues-arrest-warrant-for-do-kwons-former-colleagues","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/south-korea-issues-arrest-warrant-for-do-kwons-former-colleagues\/","title":{"rendered":"# South Korea issues arrest warrant for Do Kwon&#8217;s former colleagues"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35efdabb95b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35efdabb95b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/south-korea-issues-arrest-warrant-for-do-kwons-former-colleagues\/#%E2%80%9D_South_Korea_issues_arrest_warrant_for_Do_Kwons_former_colleagues_%E2%80%9C\" >&#8221; South Korea issues arrest warrant for Do Kwon&#8217;s former colleagues &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_South_Korea_issues_arrest_warrant_for_Do_Kwons_former_colleagues_%E2%80%9C\"><\/span>&#8221; South Korea issues arrest warrant for Do Kwon&#8217;s former colleagues &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmQwNDZmODItYTkxZS00N2Y1LWEwNjMtOGEwZmNiYmU1OThmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>Amid the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon, South Korean authorities have spread out their investigations to target other Terra executives. Prosecutors\u00a0issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors of the firm following suspicion of gaining illegal profits before the massive collapse of the Terra ecosystem.<\/p>\n<p>The Seoul Southern District Prosecutors Office in South Korea suspected that Shin possessed Terra (LUNA) tokens, which were pre-issued without the public knowledge of investors. In doing so, Shin allegedly bagged profits worth 140 billion won (roughly $105 million) by selling the pre-issued tokens during the bull market.<\/p>\n<p>Arrest warrants were also sought for three Terraform Labs investors and four engineers responsible for TerraUSD (UST) and LUNA initiatives, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/en.yna.co.kr\/view\/AEN20221130001600315\">confirmed<\/a> local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> Yonhap <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> Agency. On Nov. 19, South Korean authorities seized assets worth over $104 million from Shin under the same suspicion of making unfair profits.<\/p>\n<p>At the time, Shin\u2019s attorney maintained the counter-narrative stating that \u201cReports that CEO Shin Hyun-seong sold Luna at a high point and realized profits or that he made profits through other illegal methods are not true.\u201d <\/p>\n<p>Speaking against the arrest warrant, Shin pointed out:<\/p>\n<blockquote><p>\u201cI left (Terraform Labs) two years before the collapse of Terra and Luna, and have nothing to do with the collapse.\u201d<\/p><\/blockquote>\n<p>The seizure of funds aimed to minimize further losses for investors in case Shin decided to dispose of the stolen funds. While Kwon maintains that he\u2019s not on the run from South Korean authorities, 4,000 members of a retail investor group are attempting to track down the fugitive&#8217;s whereabouts.<\/p>\n<p>On Oct. 6, South Korea\u2019s Ministry of Foreign Affairs ordered Kwon to surrender his passport, which, if not done, would result in the permanent cancellation of his passport. The deadline has passed since.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Terra Labs, Luna Guard commission audit to defend against allegations of misusing funds<\/em><\/strong><\/p>\n<p>A local report from South Korea claimed that prosecutors obtained evidence regarding Kwon\u2019s order to manipulate the price of Luna Classic (LUNC). However, a Terraform Labs spokesperson dismissed the allegations when speaking to Cointelegraph, highlighting their dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointment in seeing &#8220;the Korean prosecutors continue to try to contort the Capital Markets Act to fit their agenda and push baseless claims.&#8221;<\/p>\n<p>Unconfirmed reports suggest that Kwon moved from South Korea to Singapore before ultimately transitioning to Dubai, United Arab Emirates.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/south-korea-issues-arrest-warrant-for-do-kwon-s-former-colleagues\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; South Korea issues arrest warrant for Do Kwon&#8217;s former colleagues &#8220; Amid the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon, South Korean authorities have spread out their investigations to target other Terra executives. Prosecutors\u00a0issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors of the firm following&#8230;<\/p>\n","protected":false},"author":1,"featured_media":518452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmQwNDZmODItYTkxZS00N2Y1LWEwNjMtOGEwZmNiYmU1OThmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,131670,122378,70934,72420],"class_list":["post-518451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-lunc","tag-terra","tag-regulation","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=518451"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/518452"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=518451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=518451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=518451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}