Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, is facing charges related to allegedly illicit profits from the sale of Terra (LUNA). Shin and 7 alleged accomplices are accused of deceiving investors and manipulating token prices, resulting in unfair profits of approximately $354 million. Shin reportedly sold around $118 million worth of LUNA before the token crashed in May 2022 and later founded fintech firm Chai Corporation. Terra co-founder Do Kwon was arrested in Montenegro for using forged travel documents and sentenced to four months in prison. Terra collapsed in May 2022, leading to a crash of the crypto market.