Seoul court rejected warrants for former Terraform Labs employees and investors

Eight Terraform Labs personnel, including co-founder Daniel Shin, early investors, and former engineers, had their arrest warrant requests rejected by a Seoul court. Yonhap News quotes the Seoul court as saying that it is unlikely that Shin and the other seven accused would flee or destroy evidence given how well they have cooperated with the inquiry. The defendants’ right to defend themselves against the claims of capital market rules, which the court says is the case’s principal accusation, must also be guaranteed, according to Yonhap.

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