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The majority of the Terra Classic community, however, were not happy with the court's decision since until now, authorities haven't made any single arrest yet related to the collapse of the TerraUSD
The crypto executive's whereabouts are still unknown and despite being on Interpol's red notice list.
This is not the first time that South Korean authorities raided Shin's property.
"While there have been multiple recent failures in crypto, it is important to distinguish between Terra's case...and the failure of centralized custodial platforms," Kwon said.
Kwon's refusal to disclose his location for safety and personal reasons was not received well by the cryptocurrency community and people who lost millions because of the Terra collapse.