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Arrest Warrant Issued Against Terra’s Do Kwon

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Alex Dovbnya

Legal walls are closing in on the controversial Terral founder, with a Seoul court issuing an arrest warrant against him

A Seoul court has issued an arrest warrant against Terra founder Do Kwon and five other individuals, Bloomberg reports.

Kwon has been accused of violating capital market rules, according to the report.

The warrant comes after several Terraform Labs employees were barred from leaving South Korea in June amid an investigation into the implosion of the Terra project.  

In his first wide-ranging interview since the collapse of Terra rejected the idea that the UST stablecoin was a scam, insisting that it was working as intended until it suddenly stopped functioning.

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The controversial entrepreneur said that he was determined to remain in the crypto industry for decades to come despite potentially facing jail time.  

Following the collapse of Terra in May, “Black Swan” author Nassim Taleb called for putting Kwon behind bars in order to prevent him from launching more scams.

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