S Korean Court Rejects Terra Exec Arrest Warrant Request, LUNC Prices Rise
Source: Jivimages/Adobe Prosecutors in South Korea have been dealt a blow after a district court rejected their arrest warrant request for a Terraform Labs executive who they think headed the troubled firm’s business operations – with Terra Luna Classic (LUNC) prices rising high in the wake of the news. Yonhap and Newsis reported that Judge Hong Jin-pyo, the head of the warrants issuance division at the Seoul Southern District Court, dismissed the prosecutors’ arrest warrant for an individual surnamed Yoo (first name not disclosed for legal reasons). LUNC prices began to rise sharply in the (UTC) morning of October 7, making gains of 2.1% in the past 24 hours at the time of writing. LUNC prices on October 7. (Source: CoinGecko) Yoo was described as the head of the Terraform Labs business team, and prosecutors wanted to arrest him for alleged violations of the Capital Market Act, as well as fraud and breach of trust. Prosecutors claimed that Yoo ope...