Prosecutors have begun securing new recruits for Terraform Labs CEO Kwon Do-hyung, a developer of the virtual assets Luna (LUNC) and Terra USD (UST), which are known to be staying abroad.
The Seoul Southern District Prosecutors' Office's Joint Financial Securities Crime Investigation Team and Financial Investigation Division 2 announced that they had recently received arrest warrants for 6 people including CEO Kwon, founding members, and representatives of affiliated companies.
Prosecutors found Luna and Terra to be “investment contract securities” under the Capital Market Act, and they were charged with violating the Capital Market Act, and an arrest warrant was issued.
Investors who suffered losses due to the collapse of Luna and Terra were charged with fraud by CEO Kwon, saying that he did not properly notify investors of the defects of the coin in May, and that it was a multi-level financial fraud called Ponzi fraud. has been sued.
The prosecution, who was assigned the case and investigated for about four months, seems to go through procedures such as Interpol red wanted to secure new recruits as they are staying in Singapore.