South Korean court issues warrant for Do Kwon’s arrest, Chosun Ilbo reports

A South Korean court issued an arrest warrant for Do Kwon, CEO of Terraform Labs, four months after the collapse of the Terra ecosystem, its native Luna token and its TerraUSD algorithmic stablecoin — which together wiped out some $40 billion in value.

Chosun Ilbo, a South Korean newspaper, was first to report the news. The warrant was issued by the Seoul Southern District Prosecutors’ Office’s Joint Investigation Team on Financial Securities Crimes (led by director Dan Sung-han) and 2nd Division of Financial Investigation (led by chief prosecutor Chae Hee-man), according to the report. 

Kwon is currently believed to reside in Singapore, per the report, which stated that there have also been warrants issued for the arrest of Nicholas Platias, another of Terraform Labs’ founders, and Han Mo, another employee. They are charged with violating the Capital Markets Act.

The report also stated that the warrant is valid for one year, and that prosecutors are hoping to work with Interpol to carry out the arrests.

This is a breaking news story. More detail will be added as the story develops. 

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