Is Terraform Labs Do Kwon on the Run

Is Terraform Labs Do Kwon on the Run

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Jonathan
Jonathan

An editor at Coincrop


20 Sept 2022 | 2 min read
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S

outh Korean prosecutors have stated that Do Kwon is fleeing and requested Interpol to issue a red notice against Terraform Labs' co-founder. Following his cryptocurrency firm's $40 billion wipe-out in May, this development adds to the public spectacle playing out.

Kwon is not cooperating with the investigation, according to the Seoul Southern District Prosecutor’s Office. They said that he had told them last month (through his lawyer) that he had no intention of appearing for questioning.

An Interpol red notice is an international call to law enforcement that prevents individuals from being issued visas, restricts their travel between borders and allows law enforcement agencies to provisional arrest them until they are extradited, or similar legal action is taken.

The LUNA token crash not only impacted Three Arrows Capital, but also a number of crypto lenders who lost billions of dollars.

Kwon is being accused of financial fraud by investors in South Korea and the U.S., who have filed lawsuits against him. South Korean prosecutors have also levelled similar accusations against Kwon.


Jonathan

Jonathan

An editor at Coincrop
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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.


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