South Korea Issues Arrest Warrant for Cryptocurrency Developer Luna

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 South Korea issues arrest warrant for Luna cryptocurrency developer

A court in South Korea has issued an arrest warrant for Do Kwon, the main developer of the Luna and TerraUSD cryptocurrencies, whose collapse shook cryptocurrencies markets around the world.

According to CNN, Do Kwon has been accused by investors of fraud after the crash.

“An arrest warrant has been issued for a total of six people, including Do Kwon, who currently reside in Singapore,” a spokesman for the prosecution said, without elaborating.

The arrest warrant was issued after months of investigation, including search and seizure operations at offices and local cryptocurrency exchanges.

According to analytics firm Elliptic, those who invested in Luna and TerraUSD lost about $42 billion.

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