A court in South Korea issued an arrest warrant for Do Kwon, the founder of the Terraform Labs cryptocurrency ecosystem, whose implosion earlier this year sparked a global crypto rout.
The court in Seoul issued a warrant for Do Kwon and five others on allegations that include violations of the nation’s capital markets law, according to a text message from the prosecutor’s office.
All six individuals are located in Singapore, the prosecutor’s office said. Do Kwon didn’t immediately reply to an email seeking comment.
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.
Do Kwon’s followers referred to themselves as “Lunatics” in reference to Luna, another token that was part of the ecosystem he helped to create. He found himself at the center of one of crypto’s biggest blowups when TerraUSD, also known as UST, crumbled from its dollar peg and brought down the...
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