- A Red Notice is an alert for authorities worldwide to be on the look out for an individual.
- Terraform Labs was behind TerraUSD and Luna, both of which hit rock bottom in May.
- South Korean authorities have refuted claims Kwon is cooperating.
Interpol has issued a Red Notice for co-founder of Terraform Labs, Do Kwon. The co-founder is wanted in connection with charges related to some $60 billion that was wiped from the face of the Earth when his cryptocurrency projects went belly up.
You may know Terraform Labs from its cryptocurrency Luna and stablecoin TerraUSD or UST. Both of those projects came crashing down earlier this year and South Korea wants Kwon and co to answer for the loses. South Korea had previously issued its own warrant for arrest.
As Bloomberg reports, Kwon and five others are accused of crimes including breaches of capital-markets law in South Korea. While it was believed that Kwon was in Singapore where Terraform Labs had a base, he is reportedly no longer located there. This has seemingly prompted Interpol to issue a Red Notice.
A Red Notice from Interpol is a request to law enforcement worldwide to locate and provisionally arrest an individual pending extradition, surrender or similar legal action.
Despite saying that he was not “on the run” some two weeks ago, Kwon hasn’t tweeted since then and his comments about “going for a run” have aged incredibly poorly.
Tbh havent gone running in a while, need to cut some calories https://t.co/SP9VtS5ob2
— Do Kwon 🌕 (@stablekwon) September 17, 2022
South Korea hopes that the Terraform Labs co-founder will answer for the breaches of its laws that he has allegedly perpetrated. The country’s lawmakers however have taken issue with claims from Kwon that he is cooperating with law enforcement.
It’s not clear where Kwon currently is but the circle is closing in on him now and with Interpol issuing a notice for South Korea, there are very few places left for the co-founder to hide.
According to DW, as many as 280 000 investors from South Korea where affected by the collapse of TerraUSD and Luna.
[Image – CC 0 Pixabay]
