The company accused South Korean prosecutors of overstepping its authority in issuing an arrest warrant for its chief executive, Do Kwon, according to the statement.
A spokesman for Singapore-based Terraform Labs said in a statement that the LUNA token is not legally a security, which means it is not protected by South Korea’s capital markets law.
“We believe that the case has been highly politicized and that South Korean prosecutors have acted unfairly and failed to uphold the fundamental rights guaranteed by South Korean law,” the statement said. Earlier news, South Korean prosecutors issued arrest warrants for Terra founder Do Kwon and other five people, and asked the Ministry of Foreign Affairs to forcibly cancel the passports of Do Kwon and others.
Interpol has issued a red notice for Terra founder Do Kwon. Do Kwon claims his name could not be found on the Interpol Red Notice website.