A judge at the Seoul Southern District Court has reportedly annulled the arrest warrants for Terra co-founder Shin Hyun-seong. Along with those of 3 investors and 4 developers from Terra.
According to a Dec. 3 note by South Korea’s Yonhap News Agency, Judge Hong Jin-Pyo said there was little risk that Shin or Terra’s associates would destroy evidence related to the case against the cryptocurrency firm. And, he dismissed the warrants that the Seoul Southern District Prosecutor’s Office issued on November 29.
The report adds that Terra co-founder Do Kwon, who is also facing legal action in South Korea over his role in the company’s collapse, is unlikely to return to the country.
South Korean authorities arrested Terraform Labs business chief Yoo Mo in October. But Judge Hong similarly dismissed the warrant within 48 hours, saying it was hard to see the “necessity and importance” of the arrest.