Following a request by South Korean prosecutors, Interpol has positioned Terraform Labs founder Do Kwon on a “red notice” checklist, TechCrunch has reported. That will create a request for legislation enforcement companies world wide to arrest Kwon following his blockchain firm’s collapse that took $40 billion from buyers with it.
After Korean authorities issued an arrest warrant for Kwon final week, he tweeted that he was “not on the run” or “anything similar.” However, prosecutors stated that they believed Kwon left Korea to “evade investigation” as he instructed them by means of his legal professionals that he did not intend to look earlier than questioning. “He is clearly on the run as his family members and the company’s key finance people also left for the same country [Singapore] at the same time,” they stated.
Kwon and different Terraform Labs’ staff are below investigation for monetary fraud and tax evasion following the collapse of its stablecoins, TerraUSD and Luna. The buyers, a lot of whom misplaced their life financial savings following the collapse, filed complaints accusing him of working a Ponzi scheme. The crash of the Luna token additionally performed a roll within the collapse of the crypto hedge fund Three Arrows Capital.
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