South Korean newswire service Yonhap is reporting that prosecutors are seeking an arrest warrant for Daniel Shin, co-founder of Terraform Labs.
Yonhap says prosecutors are charging Shin with taking illegal profits as he sold $105 million of LUNA at a market high without informing investors. He’s also being charged with violating the Electronic Financial Transaction Act for using customer data from Chai, a separate firm he managed, to promote Luna.
‘Enforcement 40’ for 2020
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