A court in South Korea has issued an arrest warrant for the founder of Terraform Labs, Do Kwon, in connection with the investigation into the collapse of the digital currency.
On the news, LUNA dropped as high as 23% to $3.3 apiece, which was previously reported by local media. Arrest warrants have been issued for six people by a South Korean court, according to a news outlet.
Terraform Labs collapsed in May after investors lost faith in its ability to work. Several of its trading pairs were discontinued by major exchanges. The old token is supported by many exchanges.
Even though law enforcement is barring his employees from leaving the country, Kwon said in an interview that he hasn't been charged with anything.
We haven't been in touch with the investigators so it's hard to make that decision. We have never been charged with anything. In the interview, he said.
South Korean prosecutors raided the home of Terraform Labs co- founder Daniel Shin as part of a probe into allegations of illegal activity. When he comes back to the country, authorities said that he needs to inform them.
All Rights Reserved © 2024
