South Korea Issues Arrest Warrant for Do Kwon

A court in South Korea has issued an arrest warrant for Do Kwon, the founder of Terraform Labs, escalating its probe into the crypto ecosystem whose two tokens lost $40 billion in value in a span of days earlier this year. From a report: LUNA, the new token of the revived ecosystem, dropped as high as 48.4% to $2.23 apiece on the news, which was earlier reported by local media Yonhap, before recovering slightly. The South Korean court has issued arrest warrants for six people, the news outlet reported, adding that the prosecutors believe the individuals have violated the nation's capital market rules.

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