[Exclusive] An arrest warrant for Kwon Dohyung, the virtual currency "Terra"...The prosecution has secured his whereabouts.An arrest warrant has been issued to Kwon Do-hyung, co-founder of Terraform Labs, a developer of cryptocurrency Terra and Luna.Kwon is currently staying in Singapore, so it is expected that he will continue to secure new recruits such as Interpol's red wanted list.
The investigation team, which consists of five prosecutors belonging to the Seoul Southern District Prosecutors' Office's Financial Securities Crime Syndicate (Leader Lee Seung-hak) and the Financial Investigation Division (Director Chae Hee-man), was recently issued arrest warrants.
The main charges applied to them are violations of the Capital Markets Act.The prosecution reportedly believes that cryptocurrency Terra and Luna are "investment contract securities" under the Capital Markets Act.Investment contract securities are securities in the form of investing money in joint projects in anticipation of profits and receiving rewards according to the results, and the prosecution reportedly found that they committed "fraudulent transactions" under the Capital Markets Act.
Currently, CEO Kwon and other key members of TerraForm Labs are all staying in Singapore.Kwon said in a recent media interview, "I have never been contacted by a Korean investigator," adding, "It is difficult to make a decision to return to Korea."It is reported that the prosecution plans to secure them through measures such as red wanted Interpol and invalidation of the passport based on an arrest warrant with a validity period of one year.
Luna once ranked around 10th in the world in virtual currency market capitalization, but its price plunged 99% in a week around mid-May.Investors sued Kwon and others for violating the Act on the Regulation of Fraud and Similar Receipt under the Special Price Act, and the joint venture launched a raid on major virtual currency exchanges in Korea in July.
The major press of korea
https://www.chosun.com/national/court_law/2022/09/14/2YBHH4ZQKFCKBJJPENIHHQYOOQ/
