Interpol has reportedly approved South Korean prosecutors’ request to issue a red notice against Do Kwon, the co-founder of the collapsed Terra ecosystem, according to Bloomberg.
Kwon has been charged with violating capital markets rules in South Korea and faces legal challenges in multiple jurisdictions.
According to South Korean prosecutors’ text message, a red notice for the Terraform Labs co-founder has now been issued, meaning that law enforcement agencies worldwide will now co-operate to locate and arrest the crypto founder.
Interpol red notices are issued for fugitives wanted either for prosecution or to serve a sentence, acting as a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
At the time of writing, Kwon has yet to appear on Interpol’s red notice list, which features a total of 7, 512 names.
Interpol hasn’t immediately replied to Decrypt’s request seeking comment. Kwon could not be reached either.
Authorities on the hunt for Kwon
Kwon, along with another co-founder of Terraform Labs Daniel Shin, was the key person behind the TerraUSD algorithmic stablecoin, once the industry’s ninth-largest asset by market capitalization, and its sister token LUNA.
The Terra ecosystem imploded in May this year, resulting in vast losses in crypto markets, with more than $40 billion of investors’ wealth wiped out in a matter of several weeks.
South Korean prosecutors issued an arrest warrant against Kwon on September 14. They also asked the finance ministry to void his passport. This was followed by a request for Interpol to issue a red notice against Do Kwon
According to South Korean prosecutors, Kwon left for Singapore at the end of April, but his whereabouts remain unclear. Singapore police said earlier this month that he was not in the city-state.
The last time Kwon appeared on social media was on September 17, when he took to Twitter to say that he was not “on the run or anything similar,” adding that “for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide.”
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