Do Kwon, the founder of Terra who once dominated the currency circle and was once famous, is now a financial fugitive wanted by the world. South Korean authorities recently confirmed that Interpol has officially issued a “Red Notice” for Do Kwon’s global hunt.
According to Bloomberg , Seoul prosecutors said Monday that Interpol had issued a “red notice” for Do Kwon, asking law enforcement agencies around the world to help find the missing Do Kwon and extradite him to the country for judicial trial.
South Korean officials charged Do Kwon and five others with crimes including violations of the Capital Markets Act.
The “Red Notice” is one of the international notices issued by INTERPOL members when they ask other members to assist in the investigation of a crime. It is the highest level of the wanted order. It is valid for 5 years and can be renewed. As long as the suspect is at large, the red notice will be issued. It works until the suspect is apprehended.
Neither Interpol nor Do Kwon responded to requests for comment by press time.
Do Kwon flew to Singapore in April this year after disbanding the South Korean branch Terraform Labs Korea. Since he was wanted by the South Korean police, the Singapore police immediately stated on September 17 that Do Kwon was not in the country, and he himself also issued a high-profile denial at the time. He fled and said that he would cooperate with the investigation, but did not disclose where he was, and he has not posted any more since then.
In May of this year, the market witnessed the collapse of the Terra algorithmic stablecoin UST and its sister coin LUNA , triggering a large-scale liquidation in the cryptocurrency market. Tens of billions of dollars were wiped from the market in just a few days, forcing several cryptocurrency companies. Filed for bankruptcy, including high-profile cryptocurrency hedge fund Three Arrows Capital (3AC) .
Since the collapse of the Terra ecosystem, many surprising inside stories have gradually surfaced, and the founder Do Kwon’s dark history has also come to an end. The Korean authorities have expanded their investigation into whether the crash involved illegal acts.
Blocker previously reported that South Korean prosecutors raided and seized the residence of Terra co-founder Daniel Shin and Do Kwon-related company Kernel Labs in July this year.
