Do Kwon, the founder of Terraform Labs, has received a "red notice." Kwon, the creator of the cryptocurrency Luna, is currently being investigated by South Korean authorities for allegedly violating the Capital Market Law.

Interpol issued the infamous Red Notice to Terraform Labs' founder. According to the report, a text message from South Korean authorities confirms that Interpol is actively pursuing Do Kwon.

A red notice is a request to law enforcement worldwide to locate and track a person who has been provisionally detained pending an arrest warrant, surrender, or other legal action.

The announcement comes just a week after South Korean authorities formally requested that Interpol issue a red notice against him. The International Police Organization appears to have accepted the request.

The hunt for the Luna cryptocurrency founder has intensified recently, with South Korean authorities increasing their efforts to apprehend Do Kwon. He is currently facing charges in his homeland for violating the Capital Markets Law.

He was previously said to be living in Singapore. However, a statement released by Singapore police confirmed that Do Kwon is not in the city-state, prompting officials to step up their search for him.

Furthermore, Kwon later issued a series of clarifications on Twitter, rejecting such allegations and stating that he is willing to cooperate with judicial authorities. Kwon, on the other hand, did not reveal his area to the Authorities.

South Korean authorities went to great lengths to find and prosecute him. The authorities had first requested that the South Korean Ministry of Foreign Affairs invalidate his passport and then asked that Interpol issue the red notice.

He found himself in hot water after the massive crash of the Luna cryptocurrency in May 2022. Terraform Labs' founder was accused of engaging in fraudulent and misleading activities in cryptocurrency, which harmed investors and consumers. The crash was massive in scale, resulting in the loss of $42 billion in investor funds.

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Posted 
Sep 26, 2022
 in 
Crypto News
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