The cofounder of Terraform Labs was indicted by South Korea on charges related to the $60 billion crypto crash, report says

• Terraform Labs cofounder Daniel Shin was indicted by authorities in South Korea, per Bloomberg.
• The former crypto exec is facing several charges including violations of capital markets law.
• Nine others were also indicted in relation to the $60 billion crash of TerraUSD and sister token Luna.  

Daniel Shin, the cofounder of Terraform Labs, was indicted by South Korea on Tuesday.

The former crypto exec, along with nine others, are facing several charges including violations of capital markets law related to the fallout of Terra, according to Bloomberg.

Prosecutors froze 246.8 billion won ($184.7 million) in assets so far, per the report, citing head prosecutor Dan Sung Han.