Judge Hong Jin-Pyo reportedly said there was little risk of Shin Hyun-seong or other Terra associates destroying evidence related to the case against the platform. 7500 Total views 22 Total shares Listen to article 0:00 News Own this piece of crypto history Collect this article as NFT A judge with the Seoul Southern District Court has reportedly set aside arrest warrants for Terra co-founder Shin Hyun-seong along with those of 3 Terra investors and 4 developers.
According to an Dec. 3 report from South Koreas Yonhap News Agency, Judge Hong Jin-Pyo said there was little risk of Shin or the Terra associates destroying evidence related to the case against the crypto firm, and dismissed warrants that the Seoul Southern District Prosecutors Office issued on Nov. 29. The report added that Terra co-founder Do Kwon, also facing legal action in South Korea for his role in the firms collapse, was unlikely to return to the country.
The Seoul Southern District Courts ruling on Dec. 3rd to reject South Korean prosecutors detention warrant requests for former Terraform Labs employees once again illustrates the unfounded nature of the prosecutors’ claims, a Terra spokesperson said to Cointelegraph.
Authorities in South Korea arrested Terraform Labs head of business, Yoo Mo, in October, but Judge Hong dismissed the warrant in a similar manner within 48 hours, saying it was difficult to see the necessity and significance of the arrest. In contrast, Kwon was still the target of lawmakers and regulators, having his name added to Interpols Red Notice list and no longer holding a valid South Korean passport for international travel.
Related: South Korean prosecutors accuse Do Kwon of manipulating Terras price
Kwon has continued to be active on social media following the collapse of Terra despite many crypto users directly blaming him for their loss of funds and the events surrounding the current bear market. In September, the Terra co-founder said he was making zero effort to hide from authorities. He subsequently spoke with infamous hedge fund manager and pharmaceutical head Martin Shkreli on a Twitch podcast discussing FTX and life in prison. #Law #South Korea #Crimes #Terra #Regulation Related News What is Solana (SOL) Pay, and how does it work? How NFT court summons could change the legal landscape South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperate: Report South Korea issues arrest warrant for Do Kwon’s former colleagues Sen. Warren: Biden administration worked to stop crypto being dangerously intertwined with banks
