South Korean authorities have asked Interpol to issue a red notice against the developer behind terraUSD and luna tokens, whose $40 billion collapse in May sent crypto markets reeling.
The request follows an arrest warrant a South Korean court issued last week against the co-founder of Terraform Labs, a blockchain platform on which terraUSD and luna cryptocurrencies were based.
South Korean prosecutors also asked the country’s foreign ministry to cancel Kwon’s passport, saying that he refused to cooperate with an investigation into the crash of the Terra crypto platform.
Kwon is wanted for questioning over allegations he violated South Korean capital market rules. Investors have accused him of financial fraud. Arrest warrants have been issued for five other individuals linked to Terra’s finances.
Along with Kwon and his family, all are believed to have fled to Singapore around the time the platform collapsed – but not before disbanding the South Korean branch of Terraform Labs to “evade investigation,” prosecutors said.
The Seoul Southern District Prosecutor’s Office said that Kwon relayed via his lawyers that he had no intention to appear for questioning.
Meanwhile, Singapore police said Saturday that Kwon was not currently in the city-state, adding that it would assist the South Korean probe.
Kwon reacted on Twitter, saying he would not disclose his “GPS coordinates” just yet to prepare for defense in “multiple jurisdictions.” He also said he was not “on the run,” to which South Korean authorities responded that he “obviously” was.
Kwon’s whereabouts remain unknown. According to Interpol, red notices are a request to law enforcement worldwide “to locate and provisionally arrest” fugitives wanted “either for persecution or to serve a sentence.”
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