Terra co-founder in S.Korean crosshairs following Do Kwon arrest

cointelegraph.com:

Following Terraform Labs’ co-founder Do Kwon’s arrest in Montenegro while trying to board a plane using fake documents, South Korean authorities have turned up efforts to track down and arrest Shin Hyun-Seong, also known as Daniel Shin — Terra’s other co-founder.

Since November 2022, South Korean authorities have suspected the involvement of numerous Terra colleagues in helping Do Kwon promote unstable and uncertain investment opportunities with Terra (LUNA) and TerraUSD (UST) tokens.

Translation from Montenegro Minister of Interior Filip Adzic - “ONE OF THE WORLD'S MOST WANTED FUGITIVES WAS ARRESTED IN PODGORICAMontenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon…” https://t.co/sCJ0FFrlEk

However, after Kwon’s arrest on March 23, 2023, South Korean prosecutors are making a fresh attempt at Shin’s arrest, suggests a Bloomberg report. It reads that the prosecutors are undertaking a renewed push to detain Shin. However, no official announcement has been made public in this regard.

Authorities have previously alleged that Shin earned roughly $105 million in profits from illegal sales of LUNA tokens before Terra’s collapse. On the other hand, Shin claims to have had no involvement in Terra after January 2020, as evidenced by his LinkedIn profile.

Arrest warrants were also subsequently sought for Shin, along with three investors and four engineers. Charges against the co-founder include fraud, breach of duty, violation of capital markets law and illegal fundraising.

Related: Do Kwon faces fraud charges from US prosecutors hours after arrest

After getting caught using fake travel documents, Kwon was detained by Montenegro authorities for a standard 72