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Usha Yadav
Sep 19, 2022
by Usha Yadav

South Korean Prosecutors Ask Interpol to Issue a Red Notice for Do Kwon

Do Kwon

Table of contents

  1. Do Kwon Not Cooperating in Investigation
South Korean authorities challenged Do Kwon's assertion, over the weekend, asserting that he is not hiding and has requested that Interpol issue a red alert on the co-founder of Terraform Labs, heightening the drama that has been publicly playing out since his cryptocurrency firm was destroyed for $40 billion in May of this year.

Do Kwon Not Cooperating in Investigation

According to the Seoul Southern District Prosecutor's Office, Kwon was not assisting with the inquiry. He had informed them (via his attorney) last month that he had no plan to come for questioning, according to official comments reported by the local media outlet Yonhap. The prosecutors claim they have "circumstantial proof" that Kwon is seeking to flee and have asked Seoul's foreign ministry to withdraw his passport.

A red notice from Interpol, which alerts law enforcement worldwide, has the power to stop people from getting visas, impose restrictions on their international travel, and "provisionally arrest a person pending extradition, surrender, or comparable legal action." Kwon stated over the weekend that he wasn't hiding from any government organization that had "expressed interest in contact." We are fully cooperating, and we have nothing to hide, he tweeted.

Kwon Receives Arrest Notice from South Korea

Last Monday, Kwon received an arrest notice from South Korea, which prompted many investors to liquidate their holdings in the resurrected Luna tokens. "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," Kwon said in a tweet over the weekend.

Kwon claimed he hadn't spoken to South Korean officials in an interview with Coinage last month. Investors in South Korea and the U.S. filed lawsuits against Kwon for illegal fundraising and fraud after the two coins—Luna and TerraUSD—crashed earlier this year, wiping out approximately $40 billion of hundreds of thousands of investors.

 

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South Korean Prosecutors Ask Interpol to Issue a Red Notice for Do Kwon
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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