Editors News- 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 all around the world. The South Korean authorities have recently 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 reports. Following this, Interpol issued a red notice for Kwon.
Bloomberg reported:
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, where his now-defunct Terraform Labs had a base. Even Though, it is unclear where he is currently after Singapore police reported on September 17 that he had left.
In the past few weeks, South Korean prosecutors have intensified their investigation into Kwon, charging earlier this month that the Terra founder was “not cooperating” and “clearly on the run”. Following this, the prosecutors asked Interpol, the international police organization, to issue a red alert for Kwon.
However, Kwon used social media to declare that he was not hiding and that he had “expressed interest” in speaking with law enforcement. Additionally, he asserted that his team was collaborating because they had nothing to conceal.
Investors lost faith in the effectiveness of Terraform Labs’ purported stablecoin UST and cryptocurrency LUNA in May, which led to a rapid collapse of the price. Kwon relaunched the cryptocurrency 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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Source: https://thenewscrypto.com/terras-do-kwon-has-been-issued-a-red-notice-by-interpol/