It is reported that a judge of the South District Court of Seoul, South Korea, withdrew the arrest warrant for Terra co-founder Shen Xiancheng and three Terra investors and four developers.
According to the report of Yonhap News Agency on December 3, Judge Hong Jin Pyo indicated that the risk of Shin or Terra's partner destroying relevant evidence related to the case of data encryption enterprises was not great, and rejected the arrest warrant issued on November 29 by the prosecutor company office in South Seoul, South Korea. He was sued in South Korea because of his role in the company's bankruptcy.
A Terra spokesman told CoinTelegram: "The decision of the South District Court of Seoul, South Korea, on December 3 to reject the detention order of the Korean prosecutor against former employees of Terraform Labs once again reflects the prosecutor's false accusation.".
The Korean government arrested Yoo Mo, the business manager of Terraform Labs in October, but Judge Hong rejected the arrest warrant in a similar way within 48 hours, saying it was difficult to see the "importance and necessity" of the arrest. In comparison, Quan Zaiwei is still the target of due process and regulatory authorities. Her name is listed in the Interpol Red Notice Register, and she will no longer have an efficient Korean passport for international travel.
After Terra collapsed, Kwon became active again on the social platform, although many data encryption customers directly attributed asset loss and the current stock market bear to him. In September this year, Terra's co-founder indicated that he was "sparing no effort to conceal from the government". Then, on the Twitch podcast, she communicated with Martin Shkreli, the notorious hedge fund manager and head of the pharmaceutical industry, to discuss FTX and life in prison.Related information