Report: South Korean Prosecutors Issue Arrest Warrant for Terraform Labs CEO Do Kwon

Prosecutors in South Korea have issued a warrant for Do Kwon's arrest and five other suspects. Prosecutors claim that Kwon and five others violated South Korea's capital market law. Prosecutors will request Interpol red notices for Terraform Labs' chief executive officer.

Terraform Labs Executives Convicted of Violations to South Korean Capital Markets Law

According to reports, South Korean authorities have issued an arrest warrant against Do Kwon, the Terraform Labs founder and chief executive officer. Kwon, along with five other Terraform Labs associates, are accused of violating the country's capital market law.

Forkast News quotes Choi Sungkook as confirming the issue and execution of the warrant. According to the report, Sungkook will not reveal the other charges against Kwon or his associates.

South Korean prosecutors are investigating Kwon (and his associates) since the collapse of cryptocurrency LUNA (now LUNC), and once-stable currency UST (now USTC). Kwon and his associates at Terraform Labs have not been arrested, but a warrant has been issued.

Interpol Red Notice

A report in Nikkei Asia cites an unnamed "spokesperson to prosecutors" who confirms the issuing a warrant for six persons.

According to a spokesperson, "A warrant for arrest has been issued for six persons, including Do Kwon who is currently residing at Singapore."

Kwon was not the only one wanted. The Forkast News report also identified Nicholas Platias (ex-head of research at Terraform Labs), and Han, the CEO of Chai Corporation, as the other two suspects.

South Korean prosecutors also issued an arrest warrant and said that they would seek an Interpol red Notice for Kwon.

South Korean prosecutors are reportedly issuing an arrest warrant against Kwon and five other people. This comes just days after the price for LUNA 2.0, the successor to Luna, soared more than 200% in 24 hours. The token's value in U.S. dollars has fallen to $2.90 at the time this article was written, from $6.87 at its peak.

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By: Terence Zimwara
Title: Report: South Korean Prosecutors Issue Arrest Warrant for Terraform Labs CEO Do Kwon
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Published Date: Wed, 14 Sep 2022 16:30:54 +0000

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