Interpol issues red notice for Terraform Labs founder Do Kwon

At the request of South Korean prosecutors, Interpol has placed Terraform Labs founder Do Kwon on a “red notice” list. TechCrunch has called. That will prompt law enforcement agencies around the world to arrest Kwon following the collapse of his blockchain company, which stole $40 billion from investors.

After Korean authorities issued an arrest warrant for Kwon last week, he was arrested tweeted that he was “not on the run” or “something like that.” However, prosecutors said they believed Kwon left Korea to “evade investigation” as he told them through his attorneys that he did not plan to appear before questioning. “He is clearly on the run as his family members and key financiers of the company have also left for the same country [Singapore] at the same time,” they said.

Kwon and other Terraform Labs employees are under investigation for financial fraud and tax evasion following the collapse of its stablecoins TerraUSD and Luna. Investors, many of whom lost all their savings after the collapse, filed complaints accusing him of running a Ponzi scheme. The Luna token crash also played a role in the collapse of crypto hedge fund Three Arrows Capital.

All products recommended by Engadget are selected by our editorial team independently from our parent company. Some of our stories contain affiliate links. If you buy something through one of these links, we may receive an affiliate commission. All prices are correct at time of publication.

https://www.engadget.com/interpol-red-notice-terraform-founder-do-kwon-104327535.html?src=rss Interpol issues red notice for Terraform Labs founder Do Kwon

Russell Falcon

USTimesPost.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@ustimespost.com. The content will be deleted within 24 hours.

Related Articles

Back to top button