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South Korean Judge Rejects Arrest Warrant for Terra Co-Founder Daniel Shin


A South Korean judge has rejected the requested arrest warrant for Terraform Labs co-founder Daniel Shin.

However, the arrest warrant issued for Do Kwon remains in force.

Refusal from the South Korean Judge

According to Yonhap News, the arrest warrant issued for Daniel Shin, who co-founded Terraform Labs with Do Kwon, has been dismissed.Hong Jin-pyo, the chief judge in charge of search warrants at the Seoul Southern District Court, Decried the issue, saying:

”Taking into account the attitude towards the investigation, the circumstances, the process and the content of the statement, it is difficult to say that there is a risk of destroying evidence or going beyond the scope of exercising the right to self-defense”

Although an arrest warrant has been issued for Do Kwon, his whereabouts are currently unknown. Key personnel and former employees of Terraform Labs are prohibited from leaving the country.

The arrest warrants requested for Terra’s three early investors and four developers were rejected for the same reasons, according to Yonhap.

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