Daniel Shin’s

$104 Million Seized

November 17, 2022

South Korea's Seoul Southern District Court has reportedly granted the

local prosecutor's request

to freeze Daniel Shin's $104 million in assets.

According to

local media

reports, authorities believe the assets were obtained illegally through the LUNA cryptocurrency.

Shin is under allegations of unauthorized use of customers’ personal information in launching

Chai’s Terra payment services.

Do Kwon,

CEO of Terra posted a thread of tweets on Wednesday.

He regrets the

collapse of Terra LUNA

and defended himself and his team that there was no wrongdoing in the project.

Since May, South Korean authorities have been investigating the

failure of Terra-LUNA.

Terra collapse

affected hundreds of thousands of investors around the world.