A South Korean judge has denied the requested arrest warrant for Terraform Labs co-founder Daniel Shin.
However, the arrest warrant for Do Kwon remains in effect.
Rejection from South Korean Judge
According to Yonhap News, the arrest warrant for Daniel Shin, who co-founded Terraform Labs with Do Kwon, has been denied.
Hong Jin-pyo, the chief judge in charge of search warrants at the Seoul Southern District Court, said:
“Given the attitude towards the investigation, the circumstances, the process and the content of the statement, it is difficult to say that there is a risk of destroying evidence or going beyond the scope of exercising the right of self-defense.”
Although an arrest warrant has been issued for Do Kwon, his whereabouts are currently unknown. Key personnel and former employees of Terraform Labs are prohibited from leaving the country.
According to Yonhap, the requested arrest warrants for Terra’s three early investors and four developers were denied for the same reasons.
