Interpol Has Officially Issued A Red Notice Against Do Kwon
- Interpol, an international organization that facilitates worldwide police cooperation and crime control, has issued a red notice for all the law enforcement agencies to locate and arrest Kwon.
- Kwon claims that he is not “on the run” despite leaving South Korea and travelling to Singapore.
- South Korean prosecutors pointed out that they had issued an arrest warrant for Do Kwon ever since he left the country for Singapore because there was an abundance of “circumstantial evidence of escape.”
Do Kwon, the person behind the failed stablecoin project Terra, seems to have come under the crosshairs of the Interpol, an international organization that facilitates worldwide police cooperation and crime control, as the agency has issued a red notice for all the law enforcement agencies to locate and arrest Kwon.
On the other hand, it is a well-known fact that Do Kwon is the person responsible for the collapse of the Terra ecosystem and the depeg of his stablecoin and as a result, around $60 billion was wiped off from the crypto space as per Bloomberg. In a text message to the media outlet, law enforcement authorities and prosecutors in Seoul confirmed that the international police organization has issued a Red Notice for Kwon.
Meanwhile Kwon did try to revive the Terra project out of the dust but failed to do so with the rebranding of the Terra and Terra Classic ecosystem. The failed project, now called Terra Classic, was a fork established and deserted while Terra (LUNA), the newer project, still stands.
Meanwhile South Korean authorities have accused Kwon and five of his accomplices of crimes which also includes breaching laws regarding capital markets. Following the accusation, Kwon went to Singapore where his firm Terraform Labs was located. However, the offices were closed and the city-state’s authorities confirmed that Kwon is no longer there.
Since then, Kwon’s whereabouts have been missing and it seems that he is no longer there. His last Twitter posts came on Sept. 17 when he moved to Singapore claiming that he is not “on the run” and is ready to send GPS coordinates to anyone who is working on a blockchain project or is a crypto enthusiast.
On Sept. 17 he also stated that he will ‘go for a run to burn some calories’ while also adding that he has nothing to hide from the authorities.
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,said Do Kwon in a Twitter post.
Interpol issuing a red alert for Kwon might be the last domino that leads to the arrest of the stablecoin developer for defrauding investors and causing the biggest disaster in the crypto industry. However, the Terra Stablecoin (now Terra Classic USD or USTC) was once one of the top 3 stablecoins and has now lost it peg disastrously to the $1 price level.
“We are in the process of defending ourselves in multiple jurisdictions — we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months,”
Interestingly, South Korean prosecutors pointed out that they issued an arrest warrant for Do Kwon ever since he left the country for Singapore because there was an abundance of “circumstantial evidence of escape.”