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.