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Thursday, October 31, 2024

South Korea issues arrest warrant for Luna founder Do Kwon •

A court in South Korea has issued an arrest warrant for Do Kwon, the founder of Terraform Labs, escalating its probe into the crypto ecosystem whose two tokens lost $40 billion in value in a span of days earlier this year.

LUNA, the new token of the revived ecosystem, dropped 18% on the news, which was first reported by Bloomberg.

Kwon said in an interview last month that South Korean prosecutors hadn’t been in contact with him and he hasn’t been charged with anything — even though law enforcement is barring his employees from leaving the country.

This is a developing story. More to follow…

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