Comes from an alias I use; Darakuji Shidara, Daraku (堕落 - read: corruption) relating to my standard username that I use elsewhere. Shidara was a name I made up to sound similar to my actual name, if only because of the sh.
Being read in traditional Japanese surname-first name, I use Shidara as my handle in most MMOs.
Online, I run by the name Mantikore, but that was already taken. As for the current name, I'm a metallurgical engineering student, and haematite is a substance i often have to deal with (basically, its red rust). The word is derived from the greek word for blood, hence its red colour. I would have used the name magnetite, but it sounds too much like the pokemon