A South Korean court has issued an arrest warrant against the co-founder of the now defunct stablecoin issuer Terraform Labs according to South korean newspaper Chosun Ilbo.

However it's known that Kwon is currently reside in Singapore, so we don't know how it will play out. According to the newspaper there have also been warrants issued for the arrest of Nicholas Platias, another of Terraform Labs’ founders, and Han Mo, another employee.

This is quite important development, since Terra founder launched again, and it's price seem to took a huge hit (and still taking it) in last few hours since the news is out.