Kwon, the aide and four others face charges over crypto crash
Crypto fugitive Do Kwon received a boost after a court allowed an executive linked to his collapsed Terraform Labs ecosystem to avoid jail and indicated room for dispute over some of the allegations the person faces.
The court in Seoul said it didn’t see a need to detain the suspect and added there’s scope for legal debate over whether the individual breached the nation’s capital-markets law, charges that Kwon and four others also face.
Kwon created a pair of tokens, an algorithmic stablecoin TerraUSD that was meant to have a constant $1 value in a complex arrangement with a sister coin, Luna. The project suffered a spectacular $60 billion wipeout in May, roiling the global crypto market and shocking regulators.
Kwon’s location became unclear after South Korea last month sought his arrest. He is the subject of an Interpol red notice but has denied wrongdoing. One of the issues in the case is whether Luna was subject to...
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