South Korean authorities have asked Interpol to put Do Kwon, co-founder of the defunct Terraform Labs, on red notice–a measure usually activated to entail law enforcement worldwide to locate and provisionally arrest a person on behalf of the local prosecutors.
The Seoul Southern District Prosecutors’ Office also asked the country’s foreign ministry to cancel Kwon’s passport, alleging that he was “obviously on the run and has no intention to appear before us for questioning.”
“We have begun the procedure to place him on the Interpol red notice list and revoke his passport,” the office said.
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The move comes after the office sought a South Korean court for a warrant to effect Kwon’s arrest, still pertaining to the collapse of his firm’s stablecoin TerraUSD and its LUNA coin–which overall lost around US$40 billion in the total Terra ecosystem.
However, Kwon maintains he is not on the run, but rather “in the process of defending ourselves in multiple jurisdictions.”
“I am not ‘on the run’ or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide,” he tweeted.
The former crypto firm chief added that he looks forward to “clarifying the truth over the next few months.” But, nevertheless, he seems to be determined in keeping mum on his whereabouts.
In Singapore–Kwon’s last known location–authorities claim that he is not in the state, but agreed to assist South Korea in its investigation.
“We are doing our best to locate and arrest him,” a spokesperson for the prosecutors’ office said. “He is clearly on the run as his company’s key finance people also left for the same country during that time.”
Wherever he is, Kwon seems to be the least bothered by all the recent legal actions against him.
Information for this briefing was found via Financial Times and the other sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
