BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home MEDIA

Judge Dismisses Arrest Warrant for Terra’s Head of General Affairs Yu

by BlockNews Team
October 6, 2022
in MEDIA, POLITICS, SOCIAL
Reading Time: 3 mins read
A A
1
SHARES
12
VIEWS
Share on XShare in TelegramShare on Reddit

A South Korean judge on Thursday canceled the arrest warrant for a Terraform Labs executive. Earlier Thursday, it was reported the Seoul Southern District Prosecutors’ Office arrested a suspect with the surname of Yu; Yu was Terra’s head of general affairs at Terraform Labs. That provisional arrest was the prosecutors’ first in the Terra case, but it may now fall through: In South Korea, a warrant needs to be granted within 48 hours of the arrest, or the person must be released. The warrant judge rejected the prosecution’s request, saying, “It is difficult to see the necessity and significance of arrest.”

This arrest happened right after South Korea invalidated the passport of Terra co-founder Do Kwon earlier. The South Korean government has given Kwon 14 days to comply with the new order, it said in a notice on the website Thursday. The invalidation of a passport would mean Kwon could no longer leave South Korea. If he is not currently in South Korea, he would likely find it difficult to travel elsewhere.

 The order follows Interpol issuing a red notice against the crypto entrepreneur last month, requesting law enforcement agencies worldwide to locate and arrest him. The spokesman who wrote to the Wall Street Journal declined to identify Kwon’s location, citing “ongoing physical security risks to him and his family” and noting attempts to break into his residences in South Korea and Singapore. 

Kwon has maintained his innocence and has denied reports that authorities have frozen 56.2 billion won ($39.6 million) of his cryptocurrency assets. Kwon reportedly has said that the fund’s South Korean Authorities have frozen are not his. “Have no time to trade. No funds have been frozen,” he said. “I don’t know whose funds they’ve frozen, but good for them, hope they use it for good,” Kwon added. 

Kwon’s current whereabouts are unknown, but he keeps his followers updated with his life through Twitter. Kwon has previously said that he is not trying to hide from the authority and is not on the run. The South Korean authorities have said. Otherwise, he is not cooperating with the investigation and is on the run. 

The Terra Incident 

Terra Co-Founder Do Kwon is a Korean American entrepreneur who has been involved in blockchain technology since 2013. He is the founder of Terra Tech. The Terra ecosystem imploded earlier in the year, leading to a subsequent market crash and a wave of related bankruptcies.

 The collapse of Terra cryptocurrency (Luna) and the so-called stablecoin TerraUSD (UST) in May wiped out investors’ $40 billion, prompting an uproar that caused the prosecutors to launch investigations into Kwon and his colleagues. The collapse led to a worldwide debate on cryptocurrency regulation and stablecoins. Recently, South Korean authorities have issued arrest warrants for Terra co-founder Do Kwon and his inner circle on multiple charges. 

Conclusion 

Judge dismisses arrest warrant for Yu, an inner circle member of the Terra. The investigation is still ongoing, and Do Kwon, the co-founder, whereabouts are still unknown.  

Tags: MediaPoliticsterra
TweetShareShare
Previous Post

Hacker Returns Majority Of Compromised Funds In $29 Million Transit Swap Exploit

Next Post

Russia Blocks Access To Crypto Exchange OKX

DON'T MISS THESE! HOT OFF THE PRESS

Musk Torches Trump’s $5T Budget Bill, Floats New Party to Fight “Insane” Spending
OPINION

Musk Torches Trump’s $5T Budget Bill, Floats New Party to Fight “Insane” Spending

June 30, 2025
White House Blames Fed’s High Rates as Drag on Economy, Trump Blasts Powell in Handwritten Note
OPINION

White House Blames Fed’s High Rates as Drag on Economy, Trump Blasts Powell in Handwritten Note

June 30, 2025
Trump Shuts Down Canada Trade Talks Over Digital Tax
OPINION

Trump Shuts Down Canada Trade Talks Over Digital Tax

June 27, 2025
Trump Calls Bitcoin “Amazing” and Pushes for Crypto Leadership
BITCOIN

Trump Calls Bitcoin “Amazing” and Pushes for Crypto Leadership

June 27, 2025
EU and US Rush to Finalize Trade Deal Before Tariff Deadline
OPINION

EU and US Rush to Finalize Trade Deal Before Tariff Deadline

June 27, 2025
Coinbase Smashes Through All-Time Highs: Here is What This Means for Your Bags
CRYPTO

Coinbase Smashes Through All-Time Highs: Here is What This Means for Your Bags

June 26, 2025
Load More

Related News

Germany’s Largest Banking Group Is (Finally) Letting Retail Clients Trade Crypto

Germany’s Largest Banking Group Is (Finally) Letting Retail Clients Trade Crypto

June 30, 2025
Musk Torches Trump’s $5T Budget Bill, Floats New Party to Fight “Insane” Spending

Musk Torches Trump’s $5T Budget Bill, Floats New Party to Fight “Insane” Spending

June 30, 2025
White House Blames Fed’s High Rates as Drag on Economy, Trump Blasts Powell in Handwritten Note

White House Blames Fed’s High Rates as Drag on Economy, Trump Blasts Powell in Handwritten Note

June 30, 2025
Robinhood Unveils Tokenized U.S. Stocks for EU Traders, Eyes 24/7 Market Revolution

Robinhood Unveils Tokenized U.S. Stocks for EU Traders, Eyes 24/7 Market Revolution

June 30, 2025
Aptos Looks Stuck… But Under the Surface, Things Are Heating Up

Aptos Looks Stuck… But Under the Surface, Things Are Heating Up

June 30, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.