The search for Do Kwon has just been taken to the next level.
Interpol has just officially issued a “Red Notice” for the co-founder of the failed stablecoin Terra and Luna cryptocurrency. This means that Do Kwon is now an international fugitive, being sought out by law enforcement across the globe.
According to Interpol’s website, Red Notices are “requests to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.”
A South Korean court issued its own arrest warrant two weeks ago for Do Kwon, alleging that the cryptocurrency mogul was violating capital markets law. The failure of Do Kwon’s stablecoin Terra and its sister token Luna helped create the domino effect that led to this year’s major cryptocurrency crash. Crypto’s plunge further continued as major crypto lending firms became insolvent due to investment in Terra.
When the arrest warrant was issued, South Korean prosecutors believed Do Kwon was in Singapore. However, Singaporean authorities say the Terra creator is no longer in the country.
Do Kwon later announced on Twitter that he was “not on the run” and was in “full cooperation” with the relevant government agencies. However, prosecutors in South Korea quickly disputed the claim and said Do Kwon was “obviously on the run.”
While Do Kwon may be able to avoid authorities in South Korea, Interpol’s “Red Notice” makes him a wanted man wherever he goes. On the flip side, his re-launched cryptocurrency endeavor Terra 2.0 seems unfazed by Do Kwon’s status as a fugitive. In fact, the cryptocurrency has actually spiked in value by more than 10 percent, seemingly as the news was breaking.