South Korean court has announced it has issued arrest warrants for Terra Luna founders and employees that include Do Kwon and Nicholas Platias. Red notice has also been sent to the Interpol and passports too, have been invalidated. So, there’s nowhere to run.
This arrest warrant is valid for one year and it is for violations for Capital Markets Act. Interestingly, the arrest warrant is for selling securities and not for alleged scamming.
So yes, Do Kwon is going to jail for 1-year only to get out with billions hidden in crypto somewhere. But that’s how they get you in the door. Then they’ll add more charges once they have you in custody. Some say he has hundreds of millions stashed secretly and since cryptocurrencies can be hidden easily, no one except Do Kwon knows the exact amount he has hidden.
We bet some influencer using this news to find a bullish narrative to pump his Luna holding. We are not one of them though and certainly would not ask you to buy Luna and counter trade this awful news about Terra Founders and employees. Crypto nuclear winter is just getting started.
He is the Associate Editor and lives in New York. He eats charts for breakfast.