Terra co-founder forfeits $104 million to South Korean authorities

South Korean authorities froze almost $104.4 million from co-founder Shin Hyun-seong nearly six months after the Terra blockchain was formally stopped due to suspicions of inflated profits.

Authorities in South Korea are currently looking into Shin on two counts: selling Chai’s customer transaction data to Terraform Labs and earning unauthorised profits from the sale of his own coins, LUNA and TerraUSD.


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