Prosecutors Raid Home of Terra Co-Founder Daniel Shin as Do Kwon Returns to Twitter

Prosecutors Raid Home of Terra Co-Founder Daniel Shin as Do Kwon Returns to Twitter
Daniel Shin Source: A video screenshot, Youtube/ UDC, 2018

The South Korean prosecution service’s current raid of 15 areas as part of the probe into the “Terra (LUNAC) incident” saw officers browse the home of the Terraform Labs co-founderDaniel Shin

Prosecutors are commonly reported to be taking a look at proof relating to figures at the top of the Terraform tree. Officers are now apparently examining claims that Shin’s co-founder Do Kwon “intentionally caused” the collapse of Terra community coins in May this year.

As formerly reported, prosecutors started browsing a minimum of 7 crypto exchanges, consisting of Upbit, Coinone, and Bithumb at 5:30 PM KST (8:30 AM UTC) on July 20.

Channel A reported that the searches continued over night and were not finished up until the early morning of July 21, when officers were envisioned leaving several facilities in Seoul with big boxes of took products.

The raids were performed by the Seoul Southern District Prosecutors’ Office’s Joint Financial andSecurities Crime Investigation Team

And, per Newsis and the Kookmin Ilbo, to name a few outlets, the prosecution performed a search of Shin’s personal houses in the Seongsu districtof Seoul Shin is likewise popular in South Korea as the creator of the payments platform Chai and the e-commerce platform TMON

Prosecutors likewise browsed the head office of Chai, which has actually formerly participated in collaboration handleTerraform

They likewise robbed the workplaces of Kernel Labs, a group of designers who– per existing and previous workers– dealt with secret Terra network tasks. One was priced quote as calling Kernel andTerraform “basically the same company.”

A mystical so-called “paper company” called FLEXE Corporation was likewise robbed, days after information of the company were exposed by the nationwide broadcaster KBS.

Prosecutors declare that “suspicious cashflows” passed in between FLEXE and the Singapore head office of Terraform by means of a Virgin Islands- based “shell company.”

Kwon is noted as FLEXE’s sole executive director in the business documents.

Meanwhile, Kwon (now based in Singapore) has actually taken to Twitter to countered at his critics. When one Twitter user jokingly regreted the reality that their “Do Kwon shitposts” get “500 likes” each time, Kwon answered back that they must “aim higher.”

When another leapt in to ask if Kwon was “poor now,” Kwon responded that he was“down infinite.”

A 3rd baited Kwon with images of a bound Yu-Gi-Oh! character, which drew another withering reaction from the Terraform CEO.


Compiled by Coinbold.

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