Daniel Shin, CEO of Chai Corporation, is on the list of investigators related to the collapse of Terraform Labs
and Alameda Research case, investigations into the Terraform Labs case continue. South Korean promoters remain active and took a crucial step last Tuesday.. As a result of this move, they accused Daniel Shin, or Shin Hyun-Seung, the CEO of Chai who partnered with Terraform Labs in 2019 to launch the KRT stablecoin.
In short, KRT is an asset that was designed to be stable and pegged to the South Korean Won. However, just like the rest ofAccording to the Seoul Southern District Public Prosecutor's Office, both the company and Shin are being investigated for allegedly having customers’ personal information and using it to launch payment services at Terraform Labs. The big problem is that this was done without the consent of the data owners.
Furthermore, prosecutors are accusing Shin of violating the capital market law with unfair trading practices. This is because the executive would have stored LUNA, currently called LUNC, which were preissued without notifying investors and regulators.However, the entrepreneurto have ended the partnership with Terraform Labs and Do Kwon, CEO of the collapsed company, as early as 2020. He would have taken this step in order to head Chai Corporation.
According to Forkast's source, Shin will cooperate with the ongoing investigation to clear up misunderstandings and resolve such speculation.The CEO of Terraform Labs remains at large, in addition to being the subject of a class action lawsuit by more than 300 Singaporean investors. According to South Korean prosecutors and the Korean Broadcasting System , the developer left Dubai to
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