A court in South Korea issued an arrest warrant for Do Kwon, the founder of the Terraform Labs cryptocurrency ecosystem, whose $40 billion wipeout earlier this year sparked a global crypto rout.
(Bloomberg) — A court in South Korea issued an arrest warrant for Do Kwon, the founder of the Terraform Labs cryptocurrency ecosystem, whose $40 billion wipeout earlier this year sparked a global crypto rout.
The court in Seoul issued a warrant for Do Kwon and five others, according to a text message from the prosecutor’s office. A local newspaper earlier reported that the warrant was related to a violation of capital market rules.
The unraveling of the Terra platform in May included the collapse of the TerraUSD stablecoin, shaking faith in the digital-asset sector, which has yet to recover much of the losses.
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