Teralabs’ co-founder Do Kwon who lost almost all his network due to the crash of the Terra(Luna) ecosystem and wipeout of $40 Billion worth during the Luna Crash has just been issued an arrest warrant by the South Korean Court over the Luna crash in May, 2022.
Since the Crash, prosecutors have set-up investigations into the Terra USD, barring both current and former Teraform Labs employees from vacating the country. A lot of other Investigations have been going on by the United States Security and Exchange Commission (SEC) on whether Terra USD has violated Federal investor – Protection in its marketing. This was reported by Bloomberg in June.
The Tera-Luna which was created as a Stable coin, lost its stability and crashed leaving a magnifying effect on the Entire Crypto Ecosystem sending a lot of investors to massive loss resulting from the wipe out.
Some investors were reported to have committed several harms including suicides and a lot of others depressed and recovering from this Loss of Investments and trades.
In a Recent Report by the Local Newspaper, it’s reported that the warrant issued on Do Kwon was related to capital market rules violations since Virtual Assets are not currently recognised as securities.
What then would become of the Terra(LUNA) labs and its entire Team following the cautious stance the Financial Authorities are taking against the Tera Labs and its executives.
A lot of people have taken it to the walls of Twitter as Watcher Guru reported in the early hours of Sept 14 that “South Korea has issued an arrest warrant for Luna Founder Do Kwon.
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After the Crash in May,Terra was becoming a controversial Blockchain project following its native Taken and stable coin. In September the coin was railing up about 300%.
With the news of his Arrest Warrant, what is the next step for Luna Ecosystem and its investors.
