South Korea is seeking to arrest half a dozen people from the Terra fiasco, including founder Do Kwon, over alleged violation of capital markets laws.
A court in Seoul issued an arrest warrant for Do Kwon and five others, according to a «Bloomberg» report citing a text message from the prosecutor’s office, adding that all six are currently located in Singapore.
This marks the latest development following the collapse of stablecoin TerraUSD and sister token Luna, which once had a combined value of $60 billion.
Separately, the home of Terraform Labs co-founder Daniel Shin was raided in July as part of the probe into allegedly illegal activity.
«Life is Long»
Last month, Kwon made a rare media appearance to present his account of the crypto collapse and the aftermath that followed. At one point in the interview, he claimed that there was «probably» a mole in the firm that exploited opportunities that led to the crash, though he said it was his responsibility that such vulnerabilities existed in the first place.
He also spoke about being undecided on returning to his home country of South Korea, claiming that authorities at the time had yet to contact him or issue any charges and that he planned to cooperate in due time.
And when asked about the prospect of jail time, he said: «Life is long».
