Interpol help sought to catch crypto founder

Cryptocurrency investors lose about $40 billion from the collapse of Terra

5 days ago

SEOUL, South Korea (AFP) — South Korean prosecutors have asked Interpol to issue a red notice for Do Kwon, the founder of failed cryptocurrency Terra, saying he was refusing to cooperate with their probe into its $40 billion collapse.

An official from the Seoul Southern District Prosecutors’ Office told AFP Tuesday that they had asked authorities to cancel Kwon’s South Korean passport, saying that he was clearly “on the run” from the law.

“We have begun the procedure to place him on the Interpol red notice list and revoke his passport,” the official said, adding that Kwon had told investigators through his lawyer that he would not cooperate.

The collapse of Terraform Labs earlier this year wiped out about $40 billion of investors’ money and shook global crypto markets.

A South Korean court last week issued an arrest warrant for Kwon, 31, who flew from South Korea to Singapore ahead of the crash.

Questions about his whereabouts intensified after the Singapore Police Force said this weekend that he was not in the country.

“We see him as being ‘on the run’ from the moment when he left for Singapore,” the official said, adding: “We are aware that he has no will to cooperate with all investigations since then.”


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