South Korea Issues Arrest Warrant for Do Kwon - A court in South Korea issued an arrest warrant for Do Kwon, CEO of Terraform Labs, the company behind the Terra USD (UST) and Terra (LUNA) cryptocurrencies.

    According to Bloomberg, the Seoul City Court has issued an arrest warrant for CEO of Terraform Labs Do Kwon and 5 other people over charges of fraud and violations of the nation’s capital markets law.

    The South Korean newspaper Chosun Ilbo confirmed this news, saying that the arrest warrant was issued by the Seoul Southern District Prosecutors Officer. The arrest warrant would be valid for one year and enforced by the International Criminal Police Organization (Interpol).

    Do Kwon was the protagonist of the biggest crash in crypto history, wiping out the $60 billion market cap of LUNA and UST stablecoin in May. South Korean authorities have been actively gathering evidence, interviewing former staff and investigating Terraform Labs since the collapse, mainly focusing on tax evasion.

    Do Kwon is believed to be living in Singapore since the LUNA-UST ecosystem crashed. He even appeared to give a press interview in mid-August. At that time, Do Kwon claimed to take full responsibility for Terra’s failure and hired a lawyer in Korea to prepare to face legal charges. Both LUNA and LUNC are falling sharply at the time of writing.

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