www.bloomberg.com Open in urlscan Pro
151.101.193.73  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to content



Skip to content
Bloomberg the Company & Its ProductsThe Company & its ProductsBloomberg Terminal
Demo RequestBloomberg Anywhere Remote LoginBloomberg Anywhere LoginBloomberg
Customer SupportCustomer Support

Bloomberg Webinars: Access a broad range of analysis, research, insight & ideas.



BLOOMBERG UK

Europe Edition

 * UK
   
 * Europe
   
 * US
   
 * Asia
   
 * Middle East
   
 * Africa
   
 * 日本
   

Sign In Subscribe


 * Live Now
   
   
   BLOOMBERG TV+
   
   
   BLOOMBERG MARKETS EUROPEAN OPEN
   
   Bloomberg Markets European Open kick starts the trading day, breaking down
   what's moving markets and why. Francine Lacqua and Tom Mackenzie live from
   London bring you an action-packed hour of news no investor in Europe can
   afford to miss.
   
   
   BLOOMBERG RADIO
   
   
   BLOOMBERG DAYBREAK EUROPE
   
   Overnight on Wall Street is morning in Europe. Bloomberg Daybreak Europe,
   anchored live from London, tracks breaking news in Europe and around the
   world. Markets never sleep, and neither does Bloomberg News. Monitor your
   investments 24 hours a day, around the clock from around the globe.
   
   Listen
   
   --------------------------------------------------------------------------------
   
   
   QUICKTAKE
   
   
   WHISTLE SEASON 1
   
   Series focused young entrepreneurs making their mark
   
   
   ALSO STREAMING ON YOUR TV:
   
   
 * * Markets
     Markets
      * Economics
      * Deals
      * Odd Lots
      * The FIX | Fixed Income
      * ETFs
      * FX
      * Factor Investing
      * Alternative Investing
      * Economic Calendar
      * Markets Magazine
     
     
     BUSINESS
     
     Russia Forced to Import North Korean Military Kit, Ministry of Defence Says
     
     
     MARKETS
     
     Europe Gas Steadies as Bloc to Unveil Energy Intervention Plan
     
     
     MARKET DATA
     
      * Stocks
      * Commodities
      * Rates & Bonds
      * Currencies
      * Futures
      * Sectors
     
     
     FOLLOW BLOOMBERG MARKETS
     
     
     View More Markets
   * Industries
     Industries
      * Consumer
      * Energy
      * Entertainment
      * Finance
      * Health
      * Legal
      * Real Estate
      * Telecom
      * Transportation
     
     
     MARKETS
     
     US-China Audit Deal Faces First Test as Inspectors Head to Hong Kong
     
     
     WEALTH
     
     Once a Billionaire, Peloton’s John Foley Departs With 87% Wealth Lost
     
     
     LIVING
     
     Chinese Homeowners Rush to Repay Loans Despite Mortgage Boycotts
     
     
     FOLLOW BLOOMBERG INDUSTRIES
     
     
     View More Industries
   * Technology
     Technology
      * Work Shifting
      * Code Wars
      * Checkout
      * Prognosis
     
     
     TECHNOLOGY
     
     Tencent Music Plans Hong Kong Debut as Soon as Next Week
     
     
     TECHNOLOGY
     
     Google Must Face States’ Claims in Ad Tech Antitrust Suit
     
     
     TECHNOLOGY
     
     Visa Warns Merchant Codes Won’t Show Customer Gun Purchases
     
     
     FOLLOW BLOOMBERG TECHNOLOGY
     
     
     View More Technology
   * Politics
     Politics
      * US
      * UK
      * Americas
      * Europe
      * Asia
      * Middle East
     
     
     POLITICS
     
     Ukraine Latest: US Prepares More Aid Amid ‘Shift in Momentum’
     
     
     POLITICS
     
     Xinjiang Lockdown Videos Show Rare China Solidarity With Uyghurs
     
     
     FEATURED
     
      * Hong Kong's 25 Years Under China
      * Next China
     
     
     FOLLOW BLOOMBERG POLITICS
     
     
     View More Politics
   * Wealth
     Wealth
      * Investing
      * Living
      * Opinion & Advice
      * Savings & Retirement
      * Taxes
      * Reinvention
     
     
     WEALTH
     
     Magnates Sell ‘Stunning Piece of New Zealand’ for Bumper Price
     
     
     LIVING
     
     Chinese Homeowners Rush to Repay Loans Despite Mortgage Boycotts
     
     
     FEATURED
     
      * How to Invest
     
     
     FOLLOW BLOOMBERG WEALTH
     
     
     View More Wealth
   * Pursuits
     Pursuits
      * Travel
      * Autos
      * Homes
      * Living
      * Culture
      * Style
     
     
     PURSUITS
     
     Los Angeles Dodgers Win NL West Title for Ninth Time in 10 Seasons
     
     
     PURSUITS
     
     Queen's Death Renews Interest in UK Memorabilia in Hong Kong
     
     
     FEATURED
     
      * Screentime
      * New York Property Prices
      * Where to Go in 2022
     
     
     FOLLOW BLOOMBERG PURSUITS
     
     
     View More Pursuits
   * Opinion
     Opinion
      * Business
      * Finance
      * Economics
      * Markets
      * Politics & Policy
      * Technology & Ideas
      * Editorials
      * Letters
     
     
     JOHN AUTHERS
     
     Inflation’s Terrible, Horrible, No Good, Very Bad Day
     
     
     PARMY OLSON
     
     Can Apple Be a Privacy Hero and an Ad Giant?
     
     
     BOBBY GHOSH
     
     An Unarmed Putin Wants a Culture War With the West
     
     
     FOLLOW BLOOMBERG OPINION
     
     
     View More Opinion
   * Businessweek
     Businessweek
      * The Bloomberg 50
      * Best B-Schools
      * Small Business Survival Guide
      * 50 Companies to Watch
      * Good Business
      * Subscribe to the Magazine
     
     
     THE BIG TAKE
     
     Fabricantes chinos esquivan aranceles estadounidenses gracias a México
     
     
     THE BIG TAKE
     
     Chinese Manufacturers Get Around US Tariffs With Some Help From Mexico
     
     
     FEATURE
     
     A Dubious Truck, a Whistleblower Army, and Inept Spies: Inside the Very
     Weird Nikola Saga
     
     
     FOLLOW BLOOMBERG BUSINESSWEEK
     
     
     View More Businessweek
   * Equality
     Equality
      * Corporate Leadership
      * Capital
      * Society
      * Solutions
     
     
     EQUALITY
     
     Burden of Raising Kids Drives Korean Fertility to World’s Lowest
     
     
     EQUALITY
     
     New Jersey Public Workers Rally Against Rising Health-Care Costs
     
     
     FEATURED
     
      * In Trust Podcast
     
     
     FOLLOW BLOOMBERG EQUALITY
     
     
     View More Equality
   * Green
     Green
      * New Energy
      * ESG Investing
      * Weather & Science
      * Electric Vehicles
      * Climate Politics
      * Greener Living
      * Cleaner Tech
     
     
     GREEN
     
     Russia’s Invasion Knocked Out Almost All of Ukraine’s Wind Power
     
     
     GREEN
     
     India Is Counting on Debut Green Bond to Cut Financing Costs
     
     
     FEATURED
     
      * Data Dash
      * Hyperdrive
     
     
     FOLLOW BLOOMBERG GREEN
     
     
     View More Green
   * CityLab
     CityLab
      * Design
      * Culture
      * Transportation
      * Economy
      * Environment
      * Housing
      * Justice
      * Government
      * Technology
     
     
     CULTURE
     
     Artist Reveals Instagrammers’ Real Stories With Video Surveillance
     
     
     GOVERNMENT
     
     New Yorkers Who Fled to Connecticut During the Pandemic Are Staying Put
     
     
     ECONOMY
     
     Phoenix Inflation at Record 13% Shows Divergence Among Cities
     
     
     FOLLOW BLOOMBERG CITYLAB
     
     
     View More CityLab
   * Crypto
     Crypto
      * Decentralized Finance
      * NFTs
      * Regulation
      * Technology
     
     
     CRYPTO
     
     South Korea Seeks Arrest of Terraform Labs Founder Do Kwon
     
     
     CRYPTO
     
     Crypto Nurses Post-CPI Losses as Clock Ticks to Ethereum Upgrade
     
     
     CRYPTO
     
     Crypto Traders Flee India Exchanges to Binance to Escape Tax
     
     
     FOLLOW BLOOMBERG CRYPTO
     
     
     View More Crypto
 * More
   
   --------------------------------------------------------------------------------
   
   
   
   





Markets
Crypto


SOUTH KOREA SEEKS ARREST OF TERRAFORM LABS FOUNDER DO KWON

Do Kwon, co-founder and CEO of Terraform Labs.

Photographer: Woohae Cho/Bloomberg
By

Hooyeon Kim

+Follow
September 14, 2022 at 6:02 AM GMTUpdated onSeptember 14, 2022 at 7:01 AM GMT
From



LISTEN TO THIS ARTICLE

1:46


SHARE THIS ARTICLE






Copied
Follow the authors
+ Get alerts forHooyeon Kim

A court in South Korea issued an arrest warrant for Do Kwon, the founder of the
Terraform Labs cryptocurrency ecosystem, whose implosion earlier this year
sparked a global crypto rout.

The court in Seoul issued a warrant for Do Kwon and five others on allegations
that include violations of the nation’s capital markets law, according to a text
message from the prosecutor’s office. 


Do Kwon on April 14.
Photographer: Woohae Cho/Bloomberg

All six individuals are located in Singapore, the prosecutor’s office said. Do
Kwon didn’t immediately reply to an email seeking comment.




The unraveling of the Terra platform in May included the collapse of the
TerraUSD stablecoin, shaking faith in the digital-asset sector, which has yet to
recover much of the losses.




Do Kwon’s followers referred to themselves as “Lunatics” in reference to Luna,
another token that was part of the ecosystem he helped to create. He found
himself at the center of one of crypto’s biggest blowups when TerraUSD, also
known as UST, crumbled from its dollar peg and brought down the ecosystem he had
built.



The prices of both tokens tumbled to near zero, a shadow of the combined $60
billion they once commanded.


 
 

Terra’s unraveling triggered investigations in South Korea and the US, as well
as renewed regulatory scrutiny of stablecoins -- digital tokens that are pegged
to an asset like the dollar. Stablecoins are a popular vehicle for investors
seeking to park cash away from more volatile coins, and they make it easier to
move funds onto crypto exchanges.



In July, prosecutors raided the home of Terraform Labs co-founder Daniel Shin as
the probe into allegations of illegal activity behind the collapse of TerraUSD
deepened.



Kwon has said he plans to cooperate when the time comes. In an interview with
crypto media startup Coinage that floated the prospect of jail time, Kwon said,
“Life is long.”   

— With assistance by Joanna Ossinger, and Emily Yamamoto

(Updates with more details from the prosecutors office in the second paragraph.)




SHARE THIS ARTICLE






Copied
Follow the authors
+ Get alerts forHooyeon Kim
Have a confidential tip for our reporters?
Get in touch
Before it's here, it's on the
Bloomberg Terminal
Learn more


LIVE ON BLOOMBERG
Watch Live TVListen to Live Radio
Video Player is loading.
Play Video
Pause
Unmute

Current Time 0:24
/
Duration -:-:-
Loaded: 0%


0:00:24
Progress: 0%
Stream Type LIVE
Remaining Time --:-:-
 
Playback Rate

1x
Chapters
 * Chapters

Captions
 * captions settings, opens captions settings dialog
 * captions off, selected
 * english

Fullscreen

This is a modal window.



Beginning of dialog window. Escape will cancel and close the window.

TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%Text Edge
StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional
Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall
Caps
Reset restore all settings to the default valuesDone
Close Modal Dialog

End of dialog window.


Play Again




MOST READ

 * Markets
   US Inflation Tops Forecasts, Cementing Odds of Big Fed Hike
 * Markets
   Ugly Selloff Pushes Stocks Down Most Since 2020: Markets Wrap
 * Markets
   Hedge Fund’s Decade-Long Wait for Yuan Crash Nears Payday
 * Pursuits
   Ferrari Unveils First $390,000 SUV With a Plea: ‘Don't Call It an SUV’
 * Markets
   Stock Rout Pauses as Traders Assess Policy Outlook: Markets Wrap


Terms of Service Manage Cookies Trademarks Privacy Policy ©2022 Bloomberg L.P.
All Rights Reserved
Careers Made in NYC Advertise Ad Choices Help