Odaily Planet Daily News Market sources said that a South Korean court has issued an arrest warrant for Kakao founder Kim. (Jin Shi) Kakao is a South Korean instant messaging application giant operator, which owns blockchain project Klaytn, crypto wallet Klip and other crypto-related services. In January this year, Kakao Pay announced that it would terminate its crypto asset services on February 16. Earlier news, the South Korean civil group "Economic Democracy 21" filed a complaint with the Seoul South District Prosecutor's Office, where the Virtual Asset Crime Joint Investigation Team is located, accusing former Kakao chairman Kim Bum-so and executives of Klaytn-related companies of violating the "Specific Economic Crime Aggravated Punishment Act" (embezzlement and misappropriation of public funds) and violating the "Capital Market Act". Subsequently, the South Korean prosecutors began to investigate the allegations of embezzlement and misappropriation of public funds against the former chairman of Kakao and Klaytn-related executives.