Tech

Do Kwon, creator of Terra and Luna, is now an international fugitive wanted by Interpol


The search for Do Kwon has just been taken to the next level.

Interpol just made it official grant a “Red Notice” for the co-founders of failed stablecoins Terra and Luna electronic money. This means that Do Kwon is now an international fugitive, being hunted down by law enforcement around the globe.

According to Interpol’s website, a Red Notice is “a request to law enforcement worldwide to locate and temporarily arrest a person pending extradition, surrender or similar legal action.”

A Korean court issued arrest warrant two weeks ago against Do Kwon, alleging that the crypto mogul violated capital markets laws. The failure of Do Kwon’s stablecoin Terra and its sister token Luna helped create a domino effect that led to a major crypto crash this year. The crypto slump continues as major crypto lenders default on investments in Terra.

When the arrest warrant was issued, Korean prosecutors believe Do Kwon was in Singapore. However, the Singapore authorities said that the author Terra is no longer in the country.

Do Kwon later announced on Twitter that he was “not on the run” and was “cooperating fully” with relevant government agencies. However, prosecutors in South Korea were quick to dismiss this claim, saying that Do Kwon was “obviously on the run.”

While Do Kwon is able to evade authorities in South Korea, Interpol’s “Red Notice” makes him a wanted man anywhere. On the other hand, his attempt to reissue Terra 2.0 crypto doesn’t seem to be fazed by Do Kwon’s status as a fugitive. In fact, cryptocurrencies have really add worth more than 10 percent, it looks like the news is exploding.





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