South Korea issues a “red notice” to Do Kwon – details inside

Do Kwon, one of the founders of Terraform Labs, is allegedly the subject of an INTERPOL “red notice” to law enforcement agencies around the world.

In response to the accusations Kwon faces in South Korea of ​​the demise of the Tira environment, the International Police Group issued the warning, According to South Korean prosecutors In Seoul, he spoke to Bloomberg on Monday (September 26).

South Korean prosecutors requested that Kwon be issued a “red notice” by Interpol on September 19, a week before the announcement.

Additionally, it came less than two weeks after Kwon and five other accomplices were named in an arrest warrant filed by South Korean police for alleged violations of the country’s capital markets rules.

Big problem for Do Kwon

Kwon was initially thought to live in Singapore, but local officials said on September 17 that he was not there. A few hours later, Kwon announced that he was not a “fugitive,” but did not specify where he was.

Kwon mocked the situation via Twitter He just wants to “cut some calories”. It is unclear exactly where it was.

According to the South Korean authorities, Kwon is “apparently a fugitive” and is not cooperating with them.

The International Criminal Police Organization (Interpol), which is asking law enforcement agencies around the world to find and arrest Do Kwon, has issued a red notice, according to South Korean police. Do Kwon wanted on suspicion of cracking down on cryptocurrency to the tune of $45 billion.

The arrest warrant is simply called the “Red Notice”. It is a “wanted notice” issued by INTERPOL at the request of a member state and distributed to all INTERPOL members, describing a wanted person and requesting their arrest for “surrender, surrender or similar legal action”.

Billions lost in the Tira massacre

The combined market valuation of UST and its twin LUNA coin fell by nearly $45 billion in just seven days after the implosion, according to statistics from CoinGecko.

The resulting liquidity crunch has caused other crypto lenders and hedge firms to fail, including Celsius, Voyager and Three Arrows Capital. Emails seeking comment from Kwon and Interpol were not immediately answered.

Do Kwon has already tweeted that Terraform Labs is “defending itself” in many legal contexts. According to him, the South Korean government will “fully cooperate” with any organization that shows interest in contacting them.

Seoul-based Terraform Labs came under fire after the catastrophic crash of TerraUSD (UST), an algorithmic stablecoin that quickly decoupled from the US dollar in May.

Leave a Reply

Your email address will not be published. Required fields are marked *