March 31, 2023

South Korea has issued a warrant for the arrest of Do Kwon, the controversial founding father of Terraform Labs. 

Four months have handed for the reason that Terra blockchain’s beautiful failure that introduced down their tokens LUNA and UST, a stablecoin.

The sell-off spilled over into different cash as those that simply misplaced massive on Terra tokens regarded to safe what they’d left, promoting some other probably unstable belongings – this was then seen by merchants who did not lose a penny in LUNA or UST, and plenty of of them joined within the dump as nicely. 

One Problem – He’s Not There…

South Korea issued the warrant, however we have been advised by a number of individuals who would know – Do Kwon is in Singapore. 

There’s no indication he is making an attempt to evade arrest, however these normally in a position to attain him are (at the least claiming) they haven’t been in a position to, and he is not returning calls, emails, or textual content messages.

We’re additionally listening to that South Korea is stopping potential witnesses from leaving the nation…

Terraform Labs workers members names have been added to South Korea’s ‘no fly record’.

Officials report {that a} choose additionally issued arrest warrants for 5 extra people on the premise that they violated a regulation controlling South Korean monetary markets, with these approaching the identical day,  hypothesis is that the extra folks one way or the other work with or for Terraform.

Both the United States and South Korea have lively investigations relating to Terra’s failure, and the collapse of UST has been used for instance of why there must be a larger emphasis on stablecoins stability. 

Kwon was requested about probably serving time in jail…

During an interview with Coinage that occurred a month in the past. The response he gave; “Life is long.”

If that brings him consolation, there could also be a bit of fine information for Do Kwon in all this – I hear that in jail, every single day appears longer!

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