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Do Kwon, creator of the failed algorithmic stablecoin TerraUSD and LUNA, is the target of an arrest warrant in South Korea, according to a report.

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South Korea has issued a warrant of arrest for Kwon Do-Hyung “Do Kwon”, founder and CEO of the now defunct Terraform Labs.

After the turmoil inflicted on Terra (LUNA) crypto owners, South Korean authorities are seeking out the project's founder.

A warrant for the arrest of Do Kwon and five others has reportedly been issued by prosecutors in South Korea. The prosecutors allege that Kwon and his co-accused violated the country's capital markets law. In addition to the arrest warrant, prosecutors will reportedly request an Interpol red notice for the Terraform Labs chief executive officer.

Due to the South Korean government's request for his arrest, Do Kwon, the founder of Terraform Labs, is in grave danger. The cryptocurrency market lost $40 billion as a result of Terra's stablecoin USTC and Terra Classic LUNC collapsing.

Price of LUNA token has lost nearly a third of its value, with Do Kwon's arrest warrant putting end to speculative frenzy

According to a report from a local news media, law enforcement agencies in South Korea issued an arrest warrant against LUNA Founder and Terraform Labs CEO Kwon Do-Hyeong also known as Do Kwon. The founder has been under authorities' radar since the collapse of the Terra ecosystem in May 2022.

Do Kwon, the maligned founder of Terraform Labs, has been issued an arrest warrant by South Korean authorities on breaches to capital markets law. According to Bloomberg, the Seoul courts issued a warrant for Do Kwon and five others, all of whom currently reside in Singapore.

Now that the Founder of Terra arrest surfaced in the crypto community, will LUNA collapse? Will LUNA crash to 0?

A court in Seoul issued the warrant for Do Kwon and five others, according to a text message from the prosecutor's office cited by Bloomberg.

A South Korean court has issued arrest warrants against TerraForm Labs founder Do Kwon and five others for violating the Capital Market Act. The prosecutors will work with Interpol to issue a Red Notice and extradite Do Kwon from Singapore.

According to Bloomberg, a court has also issued arrest warrants for five others on allegations that they violated South Korea's capital markets law.

Terra (LUNA) and Terra Classic (LUNC) price tumbled after a South Korean court issued an arrest warrant against its founder Do Kwon and five others. LUNA and LUNC price has fallen over 40% and 20% to $2.29 and $0.00027, respectively.

South Korean prosecutors are looking into whether Terra Luna Classic or LUNC (formerly LUNA) can be considered a security – as they continue their probe into Terraform Labs and Terra ecosystem coins.

Terra-based decentralized finance products saw outflows of over $20 million this morning.

Terra's LUNA declined 20% on the news that South Korea has issued an arrest warrant for its founder Do Kwon. The post LUNA sinks 20% after South Korea issues arrest warrant for Do Kwon appeared first on CryptoSlate.

Four months after the widely-publicized collapse of the Terra (LUNA) platform and its TerraUSD (UST) stablecoin that initiated a chain

On 11th and 12 May 2022, the crypto market saw something which no one had ever anticipated in the market. A stablecoin UST and LUNA project was created by a South Korean developer Do Kwon in his office in the capital Seoul.

The decision could implicate coin developers in fraud and violations of the Capital Markets Act.

According to a text message from the prosecutor's office, the Seoul court has issued a warrant for the arrest of Terra co-founder Do Kwon and five additional people. The post Terra LUNA & LUNC Crash After South Korea Issues Warrant for Do Kwon appeared first on BeInCrypto.

A South Korean court has issued an arrest warrant for Do Kwon, the primary developer of failed cryptocurrency Luna and the founder of blockchain platform Terraform Labs.

A Korean court has reportedly issued an arrest warrant against Do Kwon and five other Terra-related individuals.

LUNA has increased by about 300% just these past days, making it appear as if it had risen from the ashes. The feat began on September 9 and ended within a couple of hours.