It was reportedly stated by Judge Hong Jin-Pyo that there was minimal chance that Shin Hyun-seong or other Terra partners would obliterate evidence supporting the platform’s defamation claim.
Warrants for the arrest of Terra co-founder Shin Hyun-seong, three Terra investors, and four developers have apparently been disregarded by a judge of the Seoul Southern District Court.
Judge Hong Jin-Pyo dismissed warrants that the Seoul Southern District Prosecutors Office had issued on Nov. 29 because, according to a Dec. 3 report from South Korea’s Yonhap News Agency, there was little chance that Shin or the Terra associates would destroy evidence related to the case against the crypto firm. Do Kwon, a co-founder of Terra who is also the subject of legal action in South Korea for his part in the firm’s demise, was said to be unlikely to return to the nation, according to the newspaper.
A Terra spokesperson said the Seoul Southern District Court’s Dec. 3 decision to deny South Korean prosecutors’ demands for detention warrants for former Terraform Labs employees is another example of how the prosecutors’ assertions are false.
Yoo Mo, the head of business at Terraform Labs, was detained by South Korean authorities in October, but Judge Hong quickly overturned the warrant, stating that it was difficult to understand the “necessity and significance” of the detention.
Kwon, on the other hand, continued to be a target of lawmakers and authorities due to the addition of his name to Interpol’s Red Notice list and the fact that he no longer had a valid South Korean passport for international travel.
Despite many cryptocurrency users directly blaming him for their losses of assets and the circumstances leading up to the current bear market, Kwon has continued to be active on social media in the wake of Terra’s collapse.
The co-founder of Terra declared in September that he was “making zero attempt to hide” from law enforcement. Later, he discussed FTX and life in prison on a Twitch podcast with prominent hedge fund manager and pharmaceutical executive Martin Shkreli.