Interpol Requests Global Arrest of Terra’s Do Kwon

Interpol Requests Global Arrest of Terra’s Do Kwon
  • Interpol seeks worldwide arrest to Terra’s co-founder Do Kwon.
  • Seoul Prosecutors said Kwon was “obviously on the run.”
  • Reportedly, Kwon was charged with the collapse of Terra’s ecosystem.

The International Criminal Police Organization (Interpol) sent out a “Red Notice” request to law enforcement all over the world in order to “locate and arrest” Terraform Labs founder Do Kwon.

According to an article published by Bloomberg, South Korean prosecutors in Seoul sent them a text message, confirming the international police organization’s issuance of a Red Notice for Kwon. Thus, acknowledging the charges Kwon faces in the country corresponding to Terra’s downfall.

For those who aren’t accustomed to what Red Notice is, according to Interpol’s website, it is a “request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.”

Two weeks ago, the South Korean authorities issued an arrest warrant for Kwon, including five of his associates for alleged presumed violations of the country’s capital markets laws.

On September 17, Singapore’s local authorities cleared the rumors spreading that Kwon is currently residing in Singapore, saying “he wasn’t in the country,” Few hours passed, the creator of distressed Luna and stablecoin UST tweeted that he’s not “on the run,” and that they’re “in full cooperation” with the government agencies without stating his whereabouts.

However, South Korean prosecutors slammed Kwon’s statement and said that he’s “obviously on the run,” and not cooperating with the investigation.

The collapse of Terra ecosystem began after its stablecoin TerraUSD Classic (previously known as TerraUSD) depegged in May. Prompted liquidations all over the crypto market, amounting to billion of dollars. Kwon currently faces several charges that annihiated $60 billion worth of cryptocurrencies for both Luna and UST.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.