Alleges large scale fraud, embezzling, and maybe even bribery, before crypto collapse
The Seoul Southern District Prosecutor's Office has announced its intention to go after Terraform Labs co-founder Daniel Shin, and others, for their role in the collapse of the Terra/Luna stablecoin.published on Tuesday details the allegations to be brought against Shin – among them that Shin and his soon-to-be co-defendants knew that their efforts to facilitate payments using a blockchain scheme and a stablecoin pegged to the value of the US dollar just didn't work.
Along the way Terraform Labs operatives also allegedly leaked personal information, embezzled company funds, and others named in the statement perhaps even paid some bribes., causing a $42 billion crater in investors' finances. US, Singaporean and South Korean authorities have tried to hold Terraform Labs to account ever since, notably by chasing Terraform Labs co-founder Do Kwon around the world as he tried to evade arrest before he was finally
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