Prosecutors Seeking Arrest Warrant for Terraform Labs’ Daniel Shin: Yonhap

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.

Source: Prosecutors Seeking Arrest Warrant for Terraform Labs’ Daniel Shin: Yonhap