Terra CEO Do Kwon Served with Notice on Arrival in South Korea: What Happens Next? South Korean prosecutors have issued a "notification upon arrival" to Terraform Labs CEO Do Kwon, signaling intensified scrutiny in the wake of the Terra-LUNA collapse. This action, approved by South Korea’s Ministry of Justice at the request of the Seoul Southern District Prosecutors’ Joint Financial and Securities Crime Investigation Team, ensures authorities are immediately alerted should Kwon enter South Korean territory. This follows reports that The South Korean Ministry of Justice reportedly approved the prosecutors’ request that the notorious Co-Founder of Terraform Labs – Do Kwon – be ordered to notify South Korean prosecutors, who are investigating allegations of fraud related to the collapse of Terra and Luna.
The "notification upon arrival" – or Un aviso a la llegada as it is known – is a critical step in the ongoing investigation. South Korean prosecutors have issued a “notification upon arrival” and travel ban on Terra’s founder and co-founder, Do Kwon, and Daniel Shin, South Korean news outlet reports. South Korean prosecutors investigating Terra-LUNA have requested the Ministry of Justice to place a “notification upon arrival” on Terraform Labs chief executive officer Do Kwon and a.
The Terra scandal, a made-for-television story that has been at the epicenter of the collapse of the crypto market, with CEO Do Kwon included, involves serious allegations of fraud related to the dramatic failure of the TerraUSD (UST) stablecoin and its sister token, LUNA. The Terra-LUNA debacle wiped out billions in investor wealth and triggered widespread panic in the crypto market.
The move to serve Do Kwon with a notice upon arrival indicates that South Korean authorities are prioritizing the investigation. These measures are being taken during an active investigation and the aim is to ensure Kwon is held accountable. The investigation surrounds allegations of fraud related to the collapse of Terra and Luna and the notice upon arrival to Terraform Labs CEO South Korea’s Ministry of Justice has approved the request of the Seoul Southern District Prosecutors’ Joint Financial and Securities Crime Investigation Team to issue a “notification.
The next steps remain uncertain, but the "notification upon arrival" significantly increases the likelihood of Kwon facing questioning and potential charges upon his return to South Korea. Stay updated as this developing story unfolds.