While the LUNC community rejoices because of a potential comeback for the Terra Luna Classic (LUNC) token, the founder of the Terraform Labs, Do Kwon, is now facing a warrant of arrest from South Korean authorities.
A court located in Seoul reportedly issued a warrant of arrest for Kwon and five other people who are all currently located in Singapore. According to the prosecutor’s office in South Korea, the Terra founder is facing allegations of violating the country’s capital markets law
In May, what the Terra community first suspected to be a FUD attack became one of the most devastating market crashes in crypto history, triggering the loss of millions of assets from investors of Terra USD — now renamed Terra Classic USD — and Terra , which is also rebranded to Terra Luna Classic . The UST stablecoin started to drift away from its dollar peg, dropping to an all-time low of $0.006 in June.
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