A South Korean court has issued an arrest warrant for Terraform Labs co-founder Do Kwon, the issuer of the now-defunct stablecoin UST, according to reports. Bloomberg
A court in Seoul has issued arrest warrants for Do Kwon and five others, including another Terraform Labs founder Nicholas Platias and project employee Han Mo. from violating the country’s capital market laws. According to a message from the Prosecutor’s Office The news report stated
However, CEO Do Kwon is currently based in Singapore. In a recent media interview
The report also stated that the arrest warrant was valid for one year. And prosecutors hope to work with Interpol to carry out arrests of foreign suspects.
this movement It comes a few months after the Terra and Stablecoin (UST) ecosystem collapsed, resulting in a massive ripple in the crypto market.
The collapse has also led to several countries looking to regulate stablecoin, including famous crypto hedge fund Three Arrows Capital (3AC), going bankrupt.
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