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Authorities are keenly tracking down the undue gains made by Terra co-founder Shin. Property worth $86.7M, at press time, was recovered from 7 Terra employees.

The Seoul Southern District Prosecutor's Office has reportedly seized around $160 million worth of assets from eight individuals associated with Terraform Labs, including co-founder Daniel Shin. According to an April 3 report from South Korean news outlet KBS, the authorities confiscated approximately 210 billion won, which is equivalent to $160 million.

Lawyers representing Terraform Labs founder Do Kwon argue that the actions of the Securities and Exchange Commission (SEC) violate the law.

Following Do Kwon's capture in Montenegro, US and South Korean officials attempted to transfer him to their respective countries for prosecution.

Do Kwon, CEO of Terraform Labs, once denied U.S. jurisdiction during the absconding process. Will this decision be repeated?

Prosecutors reportedly took control of houses and properties in an attempt to prevent former Terra employees from disposing of assets potentially connected to criminal proceedings.

Terra, the cryptocurrency ecosystem that collapsed in May 2022, made a prominent appearance at Nationals Park during the Washington Nationals' home opener on March 30. Despite Terra's collapse, a partnership between the company and the baseball team had been in effect since February 2022, with the Terra community committing $38.2 million over five years to secure the deal.

A South Korean court denied a request for an arrest warrant for Terraform Labs co-founder, Shin Hyun-Seong, citing unconfirmed allegations and the unlikelihood of Shin being a flight risk. Shin currently faces multiple fraud charges and is accused of hiding risks associated with investing in Terraform Labs' in-house tokens.

Montenegro is racing against time to put Terra co-founder Do Kwon behind bars as US and South Korean authorities vie for his extradition. The 36-year-old Montenegrin prosecutor Haris Šabotić, who is set to face Kwon in court, has revealed that they are only concerned with charging him for using forged documents.

As baseball fans eagerly gathered for the Major League Baseball (MLB) opening day at Nationals Park in Washington D.C, they were greeted with a surprising sight. The collapsed crypto ecosystem, Terra LUNA, was displayed on banners throughout the stadium, promoting its slogan, “a decentralized economy needs decentralized money.

Shin currently faces multiple fraud charges, specifically concerning allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs.

An attendee shared an image of a Terra banner at Washington National Park with the slogan "a decentralized economy needs decentralized money."

Terra collapsed in May 2022, destroying billions of dollars' worth of value—but it's still an MLB team sponsor in the 2023 season.

Do Kwon is in for a grim year In one Of Montenegro's worst jails.

South Korean prosecutors' request for an arrest warrant for Daniel Shin, co-founder of Terraform Labs, was denied by a local court for the second time, according to media Yonhap News.

A criminal defense lawyer in Montenegro said that Do Kwon would soon be transferred to a detention area with only 8 square meters, about 10 people, and no beds.

Now in custody in Montenegro, Do Kwon could be facing "at least a year" behind bars as the country considers extradition requests, according to one criminal defense lawyer.

Do Kwon is expected to stand trial in Montenegro before facing charges in other interested jurisdictions. Kwon is the founder and CEO of Terraform Labs, the crypto company that created TerraUSD and LUNA.

Before extradition, Terraform Labs founder Do Kwon will first have to stand trial in Montenegro for traveling on a fake passport, according to his lawyer in the country. The fugitive crypto entrepreneur may also have to serve time in prison before he is extradited from the Balkan nation, its justice minister indicated.

Terraform Labs co-founder Do Kwon's arrest in Montenegro earlier this week has become one of the biggest developments in the crypto industry so far.

The U.S. and South Korea are seeking the extradition of international crypto fugitive Do Kwon. Kwon, along with another suspect, was arrested last week in Montenegro.

Do Kwon's associate- Daniel Shin - reportedly visited a South Korean court to answer key questions related to the Terra failure.

South Korea and the US appear to be competing over the extradition of disgraced Terra founder Do Kwon, and his business associate Hon Chang-Joon is caught in the crossfire.