South Korean Prosecutors Issue Arrest Warrant For Terraform Labs CEO Do Kwon – Bitcoin News Regulation

South Korean prosecutors reportedly issued an arrest warrant for Do Kwon and five others. Prosecutors say Kwon and his co-defendant have violated the country’s capital markets law. In addition to the arrest warrant, prosecutors will reportedly request an Interpol red notice for the CEO of Terraform Labs.

Terraform Labs executives accused of violating South Korean capital markets law

South Korean prosecutors have reportedly issued an arrest warrant for Terraform Labs co-founder and CEO Do Kwon. Prosecutors say Kwon and five other Terraform Labs affiliates, among other allegations, violated the country’s capital markets law.

Choi Sung-kook, a prosecutor at the Seoul South District Prosecutor’s Office, is quoted in a report

of Forkast News confirming the issue of the arrest warrant. However, according to the report, Sung-kook was not involved in revealing the other allegations that were leveled against Kwon and her partners.

Since the spectacular collapse of the cryptocurrency LUNA (now LUNC) and the once-stable UST (now USTC) currency, South Korean prosecutors have been investigating Kwon and his associates. However, no arrest warrant has been issued to date against the CEO of Terraform Labs and its affiliates.

Interpol red notice

Meanwhile, a service in Nikkei Asia quotes an anonymous “spokesman for prosecutors” who also confirmed the issuance of an arrest warrant for six people.

“An arrest warrant has been issued for a total of six people, including Do Kwon, who currently resides in Singapore,” the spokesman said.

In addition to Kwon, the Forkast News report identified former head of research at Terraform Labs, Nicholas Platias, and the CEO of Chai Corporation – known simply as “Han” – as the other two wanted people.

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In addition to the arrest warrant, South Korean prosecutors reportedly demanded an Interpol red notice for Kwon.

News of South Korean prosecutors issuing an arrest warrant for Kwon and five others comes just days after the price of LUNA 2.0 – Luna’s successor – rose more than 200% in just 24 hours. However, at the time of writing, the token’s US dollar value has dropped to $ 2.90 from a high of $ 6.87.

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer from Zimbabwe. He has written extensively on the economic problems of some African countries and how digital currencies can provide Africans with an escape.

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