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South Korea Officials Seek Arrest of Do Kwon’s Former Terraform Labs Colleague Daniel Shin

  • Shin, Kwon co-founded Terraform, whose crypto tokens imploded
  • Kwon now faces extradition after being arrested in Montenegro
Daniel Shin arrives at the Seoul Southern District Court on Dec. 2.

Daniel Shin arrives at the Seoul Southern District Court on Dec. 2.

Photographer: SeongJoon Cho/Bloomberg
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South Korean prosecutors are making a fresh effort at arresting Daniel Shin, a financial technology entrepreneur who helped to set up the Terraform Labs crypto project that suffered a $60 billion wipeout last year.

The prosecutors’ office in Seoul on Monday said it’s seeking an arrest warrant on charges including fraud and breach of duty. The development follows the detention of Terraform Labs’ other founder Do Kwon in Montenegro last week. Lawyers for Shin declined to comment.