Terraform Labs Co-Founder Daniel Shin’s Firm Chai Reportedly Raided by Seoul Prosecutors

Terraform Labs Co-Founder Daniel Shin’s Firm Chai Reportedly Raided by Seoul Prosecutors


Following the collapse of FTX, law enforcement officials are still dealing with the Terra blockchain fiasco. A new report claims Terraform Labs (TFL) co-founder Daniel Shin’s company Chai Corporation was raided by South Korean investigators.

Terraform Labs Co-Founder’s Company Chai Reportedly Raided by South Korean Law Enforcement

The Terra blockchain that collapsed last May was a crypto project co-founded by two individuals — Do Kwon and Daniel Shin (Shin Hyun-seung). Similar to the FTX fiasco, Shin was more of a silent partner like FTX’s co-founder Gary Wang.

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A report from Forkast details that the Seoul Southern District Prosecutors’ Office has raided Shin’s company Chai Corporation. The firm Chai is a payments company that was created by TFL co-founder Shin and it has been said that

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