S. Korea officials seek arrest of Do Kwon’s ex-Terraform Labs colleague Daniel Shin

South Korean cryptocurrency entrepreneur co-founder of Terraform Labs, Do Kwon (centre) is taken to court after being arrested at the airport in Podgorica on March 24, 2023. - AP

SEOUL (Bloomberg): 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 US$60 billion wipeout last year.

The prosecutors’ office in Seoul on Monday (March 27) confirmed the renewed push to detain Shin but didn’t provide further details. The development follows the arrest of Terraform Labs’ other founder Do Kwon in Montenegro last week.