South Korean Court Orders Arrest of Terra Co-Founder Do Kwon

Bloomberg reports that a South Korean court has issued an arrest warrant against Do Kwon, the co-founder of the now defunct stablecoin issuer Terraform Labs.

The report, citing a text message from the prosecutor’s office, added that the court in Seoul issued a warrant for Do Kwon and five others.

Months earlier, the Terra ecosystem and its stablecoin (UST) had collapsed, leading to a massive ripple effect in the crypto markets.

In his first public interview last month, Kwon had maintained that he is co-operating with the authorities.

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