A South Korean courtroom has issued arrest warrants in opposition to TerraForm Labs founder Do Kwon and 5 others for violating the Capital Market Act. The prosecutors will work with Interpol to situation a Red Notice and extradite Do Kwon from Singapore. The transfer comes after the newest investigation by the prosecutors’ workplace to find out if Terra tokens are securities.
South Korean Prosecutors Seek Interpol Help to Extradite Do Kwon
The Seoul Southern District Prosecutors Office’s Financial and Securities Crime Joint Investigation Team on September 14 obtained arrest warrants against Terra founder Do Kwon and 5 others from a courtroom. The prosecutors investigating the collapse of Terra tokens LUNA (now LUNC) and UST (now USTC) had additionally collected evidence for fraud and market manipulation.
Moreover, the prosecutors began a brand new investigation into Terra and Do Kwon to find out if the accused also violated the Capital Market Act. On Monday, Prosecutors met with specialists from crypto exchanges and monetary regulators together with Financial Supervisory Service to find out if Terra tokens are securities.
According to South Korean media, the prosecutors’ investigative workforce has charged the defendants with violating the Capital Market Act. The prosecutors will work with Interpol to request a Red Notice in opposition to Do Kwon to extradite him from Singapore. In addition, the prosecutors will search for passport invalidation.
The arrest warrants a sound for a yr. Therefore, the prosecutors’ investigation workforce is extra probably to make use of all measures to arrest Do Kwon and take authorized motion.
LUNA and LUNC Prices Fall After Do Kwon Arrest Warrant
Terra (LUNA) tumbled over 40% after the prosecutors issued arrest warrants in opposition to Terra founder Do Kwon. The LUNA value is at the moment buying and selling at $2.89. It has a 24-hour high and low of $2.29 and $4.63, respectively.
Terra Classic (LUNC) additionally dived 20% after the LUNA value tumbled 40%. In the final 24 hours, LUNC has made a high and low of $0.00027 and $0.00038. However, the value has elevated barely after the Terra Classic community reiterates support for LUNC.
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