Interpol has issued a red notice with respect to Terra co-founder Do Kwon’s whereabouts. Kwon was last believed to be in Singapore.
The intensity of the investigation of Terra co-founder Do Kwon is heating up as Interpol has issued a red notice, according to Bloomberg, which reported the news. Reports emerged last week that Kwon could be facing the red notice, though the co-founder has claimed that he is not on the run from officials.
South Korean prosecutors beg to differ, however, and say that they have been looking to revoke the passports of five individuals, including Kwon and financial officer Han Mo. Kwon was last known to be in Singapore, where the company had an office.
The Interpol search for Kwon really amplifies the intensity of the investigation, which is yet to see Kwon cooperate with investigators in a way they feel is satisfactory. Prosecutors have said that there is circumstantial evidence of Kwon having escaped, and do not believe he has been cooperating in good faith.
Kwon says he’s not on the run
Kwon, a controversial figure in space, has often been talkative on social media. However, since the Terra ecosystem collapsed, he has been noticeably less present. He has adamantly claimed that he is not on the run, despite what authorities are saying
Kwon’s latest claims of “not being on the run.” His most recent statement on the matter came via a tweet on Sept. 17, where he said that he is not on the run and that there is nothing to hide. He also said,
“We are in the process of defending ourselves in multiple jurisdictions — we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.”
Collapse fresh on people’s minds
The collapse of the Terra ecosystem has not yet seen a conclusion, and it continues to draw a lot of attention. Investors have largely turned their attention to other developments, as the market has seen a lot happen since. For authorities, however, the case just appears to be taking off.
The arrest warrant issued for Do Kwon and others was only one of the major episodes of the incident. Meanwhile, the Luna Classic token has gone through phases of extreme volatility and is back to trading at the same price that it was at the beginning of September.
The multi-billion dollar damage from the collapse of Terra has motivated authorities in South Korea to pay much more attention to regulation. While the metaverse appears to be becoming an important priority, officials are also thinking about making crypto subject to the capital markets law.
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