According to the Chosun Ilbo report, an investigation team composed of five prosecutors under the Seoul Southern District Prosecutor's Office recently applied to the Seoul Southern District Court for the prosecution of seven related persons stranded in Singapore including Do Kwon, the founder of Terra, and Nicholas Platias, a founding member of TFL. warrant. With Do Kwon currently stranded in Singapore, it is expected that procedures to secure new recruits, such as Interpol's Red Notice, will continue. The main charge against them is a violation of the Capital Markets Act, which prosecutors consider cryptocurrencies Terra and Luna to be “investment contract securities” under the Capital Markets Act.
dailyhodl