The Seoul court is also seeking the arrest of five other people connected to the beleaguered Terraform Labs ecosystem, alleging they violated capital markets law in the country, according to a statement from the prosecutor’s office sent to Bloomberg and other outlets. (Bloomberg)
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The Seoul court is also seeking the arrest of five other people connected to the beleaguered Terraform Labs ecosystem, alleging they violated capital markets law in the country, according to a statement from the prosecutor’s office sent to Bloomberg and other outlets. (Bloomberg)
Talking point: The implosion of Terraform Labs’ token Luna and related stablecoin Terra was the catalyst for a massive selloff in May in the crypto sector, which remains in a bear market. According to the Financial Times, South Korean prosecutors are accusing Kwon, 31, of fraud, arguing Terra was an investment security. They believe he is in Singapore and are looking at “many ways” they could arrest and extradite him, the newspaper reported. In a sit-down interview with the crypto media outlet Coinage in August, Kwon said South Korean authorities had not been in touch with him, but he planned to cooperate with any investigation.
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