: A South Korean court has issued an arrest warrant for Do Kwon, the primary developer of cryptocurrencies Luna and TerraUSD, whose spectacular collapse in May roiled crypto markets around the world.
“An arrest warrant has been issued for a total of six people, including Do Kwon, who are currently residing in Singapore,“ a spokesperson for prosecutors said on Wednesday without elaborating on the reason. The arrest order comes after months of investigation and amid public outrage in South Korea over the collapse. Globally, investors in the two coins lost an estimated $42 billion, according to blockchain analytics firm Elliptic.
The market turmoil that ensued led to the failure of several major crypto companies including U.S. crypto lender Celsius and Singapore-based crypto fund manager Three Arrows Capital.
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