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Worldwide Wanted Persons Notice Issued for Do Kwon: Report
A Red Notice is a global request to arrest a suspect from Interpol, the International Criminal Police Organization Kwon was previously seen in Singapore, although authorities there deny he no longer lives in the city-state Interpol has issued a global request to arrest Terraform Labs founder Do Kwon. Bloomberg reports. The Seoul Southern District Prosecutor's Office confirmed the development on Sunday after asking Interpol to issue him a red notice early last week. A Red Notice, although not an arrest warrant, is a request made at the behest of a member country to law enforcement authorities worldwide, a person...
Worldwide Wanted Persons Notice Issued for Do Kwon: Report
- Eine Red Notice ist eine weltweite Aufforderung zur Festnahme eines Verdächtigen von Interpol, der Internationalen Kriminalpolizeilichen Organisation
- Kwon wurde zuvor in Singapur gesehen, obwohl die dortigen Behörden bestreiten, dass er nicht mehr im Stadtstaat lebt
Interpol has issued a global request to arrest Terraform Labs founder Do Kwon. Bloomberg reports. The Seoul Southern District Prosecutor's Office confirmed the development on Sunday after asking Interpol to issue him a red notice early last week.
A Red notice Although not an arrest warrant, it is a request at the behest of a member country to law enforcement authorities worldwide to locate and arrest an individual pending extradition, surrender or similar legal proceedings.
Kwon, who is said to have been living in Singapore after leaving his native South Korea, is wanted on charges relating to his role in the Terra collapse earlier this year.
South Korean prosecutors said last week that Kwon was "apparently on the run" from authorities and refusing to cooperate. Kwon later denied these claims in a series of tweets, saying at the time he had "nothing to hide."
Earlier this month, and more than four months after Terra's implosion, a South Korean court issued a national arrest warrant for him, leading to a request from prosecutors to Interpol.
In early May, aggressive liquidations caused a hyperinflationary death spiral for Terra's LUNA token and UST, wiping out nearly $30 billion from the Terra ecosystem and another $30 billion from the broader crypto market.
Terra's collapse sent a seismic contagion shockwave across the entire crypto market in May, triggering billions of dollars in losses across the ecosystem as well as projects, lenders and hedge funds.
“In hindsight, I think we should have been more skeptical,” Kwon said in an interview with Embossing Last month. At the time, the founder blamed a leak within his company that ultimately led to the downward spiral of stablecoins.
The failed algorithmic stablecoin project has also drawn additional attention to the industry from lawmakers in the EU and US, who have since drafted legislation that they say aims to reduce or prevent further stablecoin harm.
“INTERPOL cannot force law enforcement in any country to arrest anyone who is the subject of a Red Notice,” an agency FAQ reads.
Whether the global announcement leads to Do Kwon's arrest depends on his actual whereabouts and the willingness of local authorities to respond.
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The post Global Wanted Persons Notice for Do Kwon Issued: Report is not financial advice.