"Arrest warrants have been issued for six people, including Do Kwon, who is currently living in Singapore," a spokesman for the South Korean prosecutor's office said.
The arrest orders come after months of investigations, including search and seizure operations at related offices and local cryptocurrency exchanges.
TerraUSD, the so-called stablecoin that was once among the top 10 cryptocurrencies globally by market value, pegged one coin to the equivalent of US$1. But its value fell below US$1 and dragged the Terra Luna pair token that fell with it.
The market turmoil that ensued led to the failure of several major crypto firms including US crypto lender Celsius and Singapore-based crypto fund manager Three Arrows Capital.
In an interview with crypto media platform Coinage last August, Do Kwon said he had moved to Singapore due to concerns about his family's safety and rejected suggestions that the relocation was due to an accident or an attempt to evade investigators.
A South Korean court has issued an arrest warrant for Do Kwon, the main developer of the cryptocurrencies Terra Luna and TerraUSD. The value of these two tokens collapsed in May 2022 which rocked the crypto market. Do Kwon, also the founder of blockchain platform Terraform Labs, was accused of investor fraud when its value fell below US$1 per coin.
"Arrest warrants have been issued for six people, including Do Kwon, who is currently living in Singapore," a spokesman for the South Korean prosecutor's office said.
The arrest orders come after months of investigations, including search and seizure operations at related offices and local cryptocurrency exchanges.
TerraUSD, the so-called stablecoin that was once among the top 10 cryptocurrencies globally by market value, pegged one coin to the equivalent of US$1. But its value fell below US$1 and dragged the Terra Luna pair token that fell with it.
The market turmoil that ensued led to the failure of several major crypto firms including US crypto lender Celsius and Singapore-based crypto fund manager Three Arrows Capital.
In an interview with crypto media platform Coinage last August, Do Kwon said he had moved to Singapore due to concerns about his family's safety and rejected suggestions that the relocation was due to an accident or an attempt to evade investigators.
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