Prosecutors are seeking to arrest Terraform Labs CEO Do Kwon to speed up its investigation into allegations of fraud instigated by the massive crash of its stablecoin TerraUSD and sister token Luna earlier this year. 

Investigators at the Seoul Southern District Prosecutors’ Office were confirmed on Wednesday to have acquired from a local court arrest warrants for six people implicated in the case, including the 31-year-old South Korean, on charges of capital market law violation. 

The other five include Terraform founding member Nicholas Platias, and other representatives of the crypto ecosystem and its partner firms. 

Prosecutors will reportedly request assistance from Interpol to secure the whereabouts of the accused, known to be staying in Singapore. 

The prosecution previously had difficulty applying the capital market act against those involved in the case, as cryptocurrencies were not considered a form of securities. They concluded that Luna and Terra can be viewed as “investment contract securities.” 

The prosecution’s move comes four months after the launch of a probe triggered by investor accusations that TerraUSD was a Ponzi scheme which ultimately caused losses in the billions of dollars when it and sister token Luna crashed in May.