South Korea on Monday held the first preliminary hearing for Terraform Labs co-founder Daniel Shin and seven other former employees on charges related to the collapse of the Terra-Luna crypto project.
Highlights
- South Korea held the first preliminary hearing for Terraform Labs co-founder Daniel Shin and seven other former employees.
- Shin was indicted on April 25 on multiple charges related to the collapsed Terra-Luna cryptocurrency project, including fraud.
- Shin set up the company in 2018 with Stanford University computer science graduate Kwon Do-heyong.
- Kwon fled to Europe after the project imploded and is now detained in Montenegro after being sentenced to four months in jail for trying to travel through the country on a forged passport.
- Both the U.S.
- and South Korea have filed extradition requests for Kwon, citing similar charges that Shin faces similar charges.
Read the original article
Nearly 190K people work in crypto, more than 50% located in the West