The Seoul Southern District Court has rejected the prosecutors’ arrest warrant of Terraform Labs associates. According to Yonhap News Agency, the court has dismissed the arrest order of several Terra officials, including Daniel Shin, co-founder of Terraform Labs with Do Kwon. In a text message, the South Korean Court stated
The Terraform representative accused South Korean prosecutors of exceeding their jurisdiction. The spokesman says the case regarding Do Kwon is ‘highly politicized.’ The Terraform Labs representative recently claimed in a statement that the South Korean authorities are overstepping their bounds by obtaining a warrant for the detention of Terra founder,
Do Kwon asserts he had no participation in the alleged transfer of 3,310 BTCs to KuCoin and OKX. South Korean authorities recently asked Interpol to issue a red notice on Kwon. Do Kwon, the founder, and CEO of Terraform Labs rejects controversies regarding the recent cashout allegations. In the latest
The Terraforms issue has had a significant impact on the South Korean cryptocurrency market’s downward trajectory. Under the FSC, KoFIU aims to prevent money laundering and improve financial transaction transparency. The South Korean crypto market capitalization is down about 58% in the first half of 2022. The market has fallen
FSS is investigating South Korea’s leading banks for unethical crypto transactions. FSS requested banks to submit an audit on noteworthy foreign exchange transactions. Two of the South Korean largest banks are under exploration by the Nation’s Financial Supervisory Service (FSS) for potential links with unethical crypto-based transactions. Woori and Shinhan
