- Interpol demanded the law enforcement agencies find and detain Do Kwon.
- According to authorities, Kwon is accused of defrauding investors’ money in the country.
The arrest of Terraform Labs founder Do Kwon has been demanded by regulators globally. Now, the South Korean authorities have said that the International Criminal Police Organization (Interpol) has ordered law enforcement agencies around the world to find and detain Do Kwon, as per the recent reports. Following this, Interpol issued a red notice for Kwon.
Prosecutors in Seoul said Monday in a text message the international police organization has issued a Red Notice for Kwon.
According to the authorities, Kwon is accused of defrauding investors’ money in South Korea. The authority also claimed that Kwon and five other people have been charged with offenses, including violating the capital markets law.
The ‘Wanted’ Crypto Developer
Do Kwon moved from South Korea to Singapore earlier this year. But now it is unclear where he is currently after Singapore police reported on September 17 that he had left.
South Korean authorities have increased their investigation into Kwon in recent weeks, prosecuting him earlier this month. They said that the founder of Terra was “not cooperating” and was “obviously on the run.” As a result, the authorities requested that Interpol issue a red warning for Kwon.
Kwon, on the other hand, declared on social media that he was not hiding and that he had “shown interest” in speaking with law enforcement. Furthermore, he claimed that his team was cooperating because they had nothing to hide.
In May, Terraform Labs’ purported stablecoin UST and coin LUNA witnessed a sudden collapse with a huge price drop. Kwon again relaunched the digital asset project with support from the Terraform community but has avoided the alleged algorithmic stablecoin component thus far. Due to their interdependence, the de-pegging of TerraUSD (UST), the company’s former stablecoin, and the crash of the LUNA token.
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