An arrest warrant issued to CEO Kwon Do-hyung, co-founder of Teraform Labs. A developer of Cryptocurrency Terra and Luna. Since Kwon is currently staying in Singapore. It is expected that the process of securing new recruits such as Interpol red colour wanted will continue. Do Kwon arrest warrant after terra luna crypto crash.
The investigation team consisting of 5 members of Seoul Southern District Prosecutor’s Bank of Financial Securities Crimes (Director Dan Sung-han) Combined Group 1 (Team Leader Lee Seung-hak) and Financial Investigation Part 2 (Director Chae Hee-man) recently filed an arrest warrant for officials staying in Singapore, such as CEO Kwon, Nicholas Pla.
The main charges against them are in violation of capital market laws. Prosecutors reportedly believe that Cryptocurrency Terra and Luna are ‘investment contract securities’ under capital market law. Investment Contract Securities is a type of securities that expects profits and invests money in joint business. He receives a price according to the results. It is said that the prosecutors have found that they have committed a ‘fragic fraudulent transaction’ under the Capital Market Act. Such as not even conducting joint business.
All of the key members of Terraform Labs, including CEO Kwon, are currently staying in Singapore. CEO Kwon said that it is difficult to make a decision to return to Korea, saying that he has not been contacted by a Korean investigator through a recent media interview. The prosecution reportedly plans to secure their recruits through measures such as Interpol red search. His passport invalidation based on an arrest warrant valid for one year.
Luna History & Do Kwon Arrest Warrant
Luna once saw the top 10 in the world for cryptocurrency market capitalisation, but prices plummeted by 99% in a week around mid-May. Investors sued Mr. Kwon and others for violation of the law on the regulation of fraud and similar consent practises under the special law, and Hap Sudan embarked on confiscation of major domestic cryptocurrency exchanges in July.
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