Why did South Korea arrest Kwon?

South Korea authorities issued an arrest warrant for Mr Kwon last September as they believed Terraform Labs had violated capital market rules. They had thought he was in Serbia, and even sent officials to Belgrade to negotiate, since the two nations do not have an extradition treaty.

Who is do Kwon?

A South Korean court on Wednesday issued an arrest warrant for Terraform founder Do Kwon, Reuters reported, citing a spokesperson for the prosecutors. It escalates a probe into the founder of blockchain platform Terraform Labs, the company behind the algorithmic stablecoin UST, following the Terra project’s spectacular collapse earlier this year.

What is an arrest warrant?

An arrest warrant is a warrant issued by a judge or magistrate on behalf of the state, which authorizes the arrest and detention of an individual, or the search and seizure of an individual's property. Arrest warrants are issued by a judge or justice of the peace under the Criminal Code .

What happened to do Kwon?

Do Kwon flew to Singapore in May - before Terra crashed - but the authorities say he's no longer there. South Korean prosecutors had asked Interpol to place him on the red notice list - a request it has now complied with - and asked the foreign ministry in Seoul to revoke his passport, saying that Do Kwon was "on the run".