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Do Kwon, the founder of Terraform Labs is in serious trouble after the South Korean authorities issued an arrest warrant against him.The collapse of<a href="https://www.coingabbar.com/en/cryptocurrency-category/stablecoins" rel="noopener noreferrer nofollow"> Terra’s stablecoins USTC </a>and Terra Classic (LUNC) resulted in a $40 billion crypto market wipeout.More Trouble for Do Kwon?According to reports, a court in Seoul issued a warrant for<a href="https://www.coingabbar.com/en/crypto-currency-news-english/new-inquiry-terra-launched-south-korean-prosecutors" rel="noopener noreferrer nofollow"> Do Kwon’s arrest</a>. The warrant, however, also includes the names of five additional persons. The reports added that the Terra Chief was charged with violating market regulations.Earlier, CoinGabbar reported that<a href="https://www.coingabbar.com/en/crypto-currency-news-english/kwon-founder-terra-hired-attorneys-prepare-legal-actions-2" rel="noopener noreferrer nofollow"> Terra’s founder hired attorneys</a> from a local firm. This was done to prepare for the upcoming legal problems that might arise during the government’s recently launched investigation.As per reports, Korean investigators<a href="https://www.coingabbar.com/en/crypto-currency-news-english/korean-regulator-takes-action-foreign-crypto-exchanges-2" rel="noopener noreferrer nofollow"> raided 15 cryptocurrency firms</a>. While raids and seizures were also carried out on the offices of Terra executives and affiliates.However, the arrest warrant specifies that all six people are in Singapore. Meanwhile, Do Kwon has not responded to the matter. Meanwhile, Do Kwon claimed in an interview that Korean authorities had not filed any charges against him.The collapse of the global<a href="https://www.coingabbar.com/en/cryptocurrency" rel="noopener noreferrer nofollow"> crypto market</a> led by Terra Luna has stunned the market. More than $40 billion vanished from the market in a matter of days. Meanwhile, Terra’s founder introduced a new token Terra LUNA shortly after the historic slump.Read also:<a href="https://www.coingabbar.com/en/crypto-currency-news-english/bitcoin-btc-tries-cross-day-moving-average-pay-attention" rel="noopener noreferrer nofollow"> Bitcoin (BTC) Tries to cross the 200-day Moving Average, Pay Attention</a>

Arrest Warrant Out Against Terraform Labs Founder: Report

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