South Korean authorities want to freeze the passport of the founder of the Terra network (LUNA) – Money Times

If the exemption request is granted, the founder of The world he can not stroll. (Photo: YouTube/World)

prosecutors of South Korea requested the Ministry of Foreign Affairs to make the passport of the founder of the nation invalid down network (MONTH), Do KwonThursday (15), in accordance to an area newspaper report The beak.

The notification of the request takes place the day after the publication of the arrest warrant for Kwon by the Seoul Southern District Prosecutor’s Department.

founder of down network was charged beneath the Capital Markets Act, together with 5 others. Prosecutors additionally requested that the passports of these people be invalidated – apart from Nicholas Platias, the founder of Terraform Labs, who just isn’t a Korean citizen.

Because of the very long time it takes for passports to turn out to be invalid – an area paper suggests it could take up to a month – the authorities will proceed to press on. kon again to South Korea.

His whereabouts are unknown kon in Singapore, the place he moved after the collapse of the down network and the LUNA and UST cryptocurrencies. The invalidity of Kwon’s passport would stop him from touring.

In May, the algorithmic stablecoin from The world – TerraUSD (UST) – loss of stability to the greenback, inflicting the collapse of the network ecosystem and the loss of US$40 billion in only a few days. Although Terraform Labs and Luna Foundation Guard tried to regain parity with TerraUSD, they have been unsuccessful.

South Korea points an arrest warrant
in opposition to Luna cryptocurrency developer

The founder of Terra faces different costs

Since then, kon launched plans to strive to rebuild the ecosystem of The worldhowever nonetheless lower than to the courts of legislation of offended traders.

In an interview in August, he mentioned he had by no means been caught in any manner by South Korean investigators and that it was tough to make the determination to return to South Korea, however emphasised that he was not in Singapore to escape investigators.

founder of down network He added that coping with these behaviors just isn’t a matter of being ready to face them, however how you’ll face them.

“What we are going to do is reveal the reality as we all know it. We can be fully sincere and resolve the scenario, no matter it’s,” he mentioned.

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