The Seoul Southern District Prosecutor’s Office reportedly said Terra co-founder Shin Hyun-Seong should appear before its investigation team sometime this week.
Authorities in South Korea have reportedly requested Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, to appear as part of an investigation into the collapse of the firm.
According to a Nov. 14 report from Hankyoreh, the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities Crime Investigation Teamthat Shin should appear before prosecutors sometime this week.
“Reports 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,” reportedly said Shin’s attorney. According to Shin’s LinkedIn profile, he has not been involved with Terraform Labs since January 2020 — though this does not include information on investments in the company. Shin went on to found the fintech firm Chai Corporation, where he is currently CEO.Though Shin reportedly still lives in South Korea, his fellow Terra co-founder Do Kwon was also a target of prosecutors as part of multiple investigations into the firm globally.
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