An arrest warrant has been issued for Terra’s founder, Do Kwon, by a court in South Korea.
According to the news in Bloomberg, the court in Seoul has issued an arrest warrant for Do Kwon and five others. Earlier, it was stated in a local newspaper that the search warrant was related to the violation of capital market rules.
Arrest Warrant Issued for Terra Founder Do Kwon
With the collapse of TerraUSD, the stablecoin of the Terra platform, in May, faith in the cryptocurrency industry waned. However, the markets were turned upside down and some other companies also filed bankruptcy flags.
In July of this year, South Korea asked Do Kwon to respond to the charges against him. Later, however, Do Kwon said that South Korean investigators investigating Terra’s collapse did not reach him.
After the latest developments on the Do Kwon side, a new decision came from South Korea. A court in South Korea has issued an arrest warrant for Do Kwon, the founder of the Terraform Labs cryptocurrency ecosystem.
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