The Seoul Southern District Prosecutor’s Office announced on Monday that Interpol had issued a “red notice” for the search and arrest of Do Kwon, the South Korean co-founder of Terraform Labs. It had been requested by the South Korean authorities that the global police agency assist them in tracing Do Kwon’s whereabouts earlier this month.
The “red notice” is a notification sent by Interpol to law enforcement agencies worldwide that urges them to locate and temporarily arrest fugitives pending extradition, surrender or any other legal action that may be taken. It is likely that Do Kwon will need to be repatriated if he is arrested outside of South Korea. There is no extradition treaty between South Korea and Singapore at the moment. According to officials, South Korean prosecutors have requested that the passport of Do Kwon be invalidated.
A warrant for Do Kwon and five other individuals was issued recently by the Seoul Southern District Prosecutor’s Office on charges of violating the country’s financial laws, along with charges against Do Kwon and five others. At the time of the incident, Do Kwon was believed to be in Singapore. It has been reported by local media in Singapore that the police are saying he has left the country.
After the price of Do Kwon’s cryptocurrencies, Luna and TerraUSD, plummeted in May, the South Korean government investigated him and his company in connection with a $300 billion crash across the crypto economy caused by the value of his digital assets. After allegations of tax evasion and fraud were made regarding Do Kwon and his company, the plunge caused an uproar among investors and led to calls for an investigation into Do Kwon and his company.
I am not “on the run” or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide
— Do Kwon 🌕 (@stablekwon) September 17, 2022
A South Korean arrest warrant was issued against Do Kwon on Tuesday, and he took to Twitter to say that he was willing to cooperate with investigators following the issuance of the warrant. “I am not ‘on the run’ or anything similar,” he wrote in his tweet. Do Kwon’s arrest was reported by South Korean media outlet Yonhap.
