South Korea prosecutes Terraform Labs co-founder Daniel Shin

The Seoul Southern District Prosecutor's Office has announced its intention to go after Terraform Labs co-founder Daniel Shin, and others, for their role in the collapse of the Terra/Luna stablecoin. A lengthy announcement published on Tuesday details the allegations to be brought against Shin – among them that Shin and his …

[ChoHag]

For all that terrorform are at fault here, be aware that we have a system where $42bn is given away by people who do not understand and have not even attempted to understand to what it's being given. And we're not only fine with that but also feel the need to protect, nay recover, their money.

Can I get some government prosecutors to chase all the people I've given money to without thinking?

[FatGerman]

Investment always caries risk. Some of that risk is that the thing you're investing in is complete bunk. So why do all these investors start crying when the risk doesn't pay off? Is it because they're a bunch of spoiled, greedy, selfish, nobwobblers?

[JimC]

The difference is...

There's a difference between something that might have worked but didn't, which is risk, and something that never could have worked, and the organiser knew it, which is fraud.

Admittedly the line between is awfully blurred, to say the least, with crypto currency, where it appears many of the proponents so naive and so full of self deceiving belief in their own bull**** that its hard to see where stupidity stops and fraud starts.

[Michael Wojcik]

Re: The difference is...

And that's why the industrialized nations have regulations regarding investment schemes and vehicles, and people and organizations which offer investment schemes and vehicles that fail to comply with those regulations are breaking the law. Oh, they say it's "novel" and "disruptive" and "we don't think your regulations apply"? Tell it to the judge.

[ecofeco]

There is a difference between risk and outright fraud.