South Korean Sleuths Indict Terra Co-Founder, Uncovering Do Kwon’s $8.6M Nest Egg

• TerraForm Labs co-founder Daniel Shin is charged with fraud by South Korean law.
• The lawsuit tackles nine other Terra investors who breached capital markets law.
• The criminal case revolves around the malfunctioned stablecoin UST and LUNA.

The South Korean special task force made a breakthrough in the controversial case of one of crypto's worst financial disasters. Authorities claim that the entire ecosystem of Terra Luna, including the algorithmic stablecoin Terra USD (UST) and Terra Luna (LUNA), was fabricated from the start.

According to the leaked court documents, Do Kwon, Daniel Shin, and eight other co-founders caused “astronomical damage” to the investors by deliberately keeping the holders in the dark...

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