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BREAKING: Arrest Warrant Issued Against Terra's Do Kwon

Wed, 09/14/2022 - 06:36
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Alex Dovbnya
Legal walls are closing in on the controversial Terral founder, with a Seoul court issuing an arrest warrant against him
BREAKING: Arrest Warrant Issued Against Terra's Do Kwon
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A Seoul court has issued an arrest warrant against Terra founder Do Kwon and five other individuals, Bloomberg reports.

Kwon has been accused of violating capital market rules, according to the report.

The warrant comes after several Terraform Labs employees were barred from leaving South Korea in June amid an investigation into the implosion of the Terra project. In July, investigators also raided local cryptocurrency exchanges as part of the probe. 

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In his first wide-ranging interview since the collapse of Terra rejected the idea that the UST stablecoin was a scam, insisting that it was working as intended until it suddenly stopped functioning. Many critics, however, insist that the project was rotten under the hood, likening it to biotech scam Theranos.    

The controversial entrepreneur said that he was determined to remain in the crypto industry for decades to come despite potentially facing jail time.  

Following the collapse of Terra in May, many started voicing their calls for repercussions. “Black Swan” author Nassim Taleb called for putting Kwon behind bars in order to prevent him from launching more scams.

It is worth noting that Kwon currently resides in Singapore. According to South Korean newspaper Chosun Ilbo, which originally broke the news, local prosecutors plan to work with Interpol, the world's largest police organization, in order to carry out these arrests within a year.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at