Sunday, August 24, 2025

Latest

South Korea Asks To Put Terra Co-Founder On Red Notice, Do Kwon Says He’s “Not On The Run”

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.

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.

Video Articles

G Mining Q2 Earnings: Costing Gone Wild

Aya Gold Q2 Earnings: Production Slips Amid Ramp Up

i-80 Gold Q2 Earnings: Better, But Not Great

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Terra Blockchain Goes on Bitcoin Buying Spree to Diversify Reserves

The price of bitcoin is finally showing signs of a rebound, rising above $45,000 for...

Tuesday, April 5, 2022, 10:05:00 AM

Take Kwon Do: DOJ Probes Terra Stablecoin Collapse

According to persons familiar with the situation, the Justice Department is examining the collapse of...

Tuesday, March 14, 2023, 02:59:00 PM

Terraform Labs Files Chapter 11 Bankruptcy Following TerraUSD Collapse

Singapore-based Terraform Labs, the firm behind the stablecoin TerraUSD, has officially filed for Chapter 11...

Monday, January 22, 2024, 07:37:43 AM

Do Kwon To Be Extradited To US From Montenegro

Things aren’t going in Do Kwon’s favor this year. After the Terraform Labs co-founder spent...

Thursday, December 7, 2023, 12:36:38 PM

Kwonzi Scheme 2: Do Kwon Gets Indicted For Fraud As Interpol Confirms His Arrest

Do Kwon, the crypto tycoon behind the high-yielding stablecoin TerraUSD and its companion token Luna,...

Friday, March 24, 2023, 11:20:00 AM