Luna crypto drops by almost 50% after Seoul court issues arrest warrant for Terra co-founder

South Korean authorities have issued a warrant of arrest for Do Kwon, co-founder of Terraform Labs, which saw the collapse of its $40 billion crypto ecosystem earlier this year. News of the arrest negatively impacted the price of the new Luna token and sent it plunging by almost 50 percent. A court in Seoul issued a warrant of arrest for Do Kwon and five other people who are all currently in Singapore, Cointelegraph reported. The prosecutors office explained that Kwon is facing allegations of violating South Koreas capital markets law. Many suspect that the Terra ecosystem was targeted...


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