According to a report from Bloomberg, the International Criminal Police Organization (Interpol) has issued a red notice for Terraform Labs co-founder Do Kwon, who maintains he’s not on the run despite not revealing his location.
Singapore Authorities have announced that he's not in the city-state where the Terraform headquarters are. Kwon has communicated that nobody has any business knowing his location unless they are “friends, have plans to meet, or are involved in a GPS-based Web3 game.”
Why Is Do Kwon On The Run?
The name Do Kwon is synonymous within the crypto world, notably due to the 2021 LunaTerra fiasco, which saw hundreds of thousands of clients lose millions of dollars when the stablecoin Luna (LUNA) crashed.
Do Kwon was held personally responsible by many at the time, though it was clear that the Luna project was destined to fail from inception. To redeem the company’s reputation and bring fortune back to LUNA holders, Kwon launched Luna Classic (LUNC).
The coin showed promise from the end of August into the first week of September, with the price rising to around $0.0005—sparking investors and Luna evangelists to speculate about the possibility of the coin making it to $1. But, as was to be expected, the currency has since dipped and continues to do so, with the price currently hovering around $0.0002.
South Korean prosecutors are looking to speak to the founder of a company that saw $60 billion in cryptocurrency value wiped almost overnight. With a myriad of cases against him, the Korean authorities seek to charge him with alleged crimes related to breaking capital-market laws.
The prosecutor's office commented in a text message to Bloomberg on Monday saying, “Prosecutors on Monday have made a request to Interpol for their assistance to locate Kwon, whose whereabouts remain unknown, and to have him handed over to Korea.”
Kwon, who is very active on Twitter and constantly relays his thoughts and feelings to his followers, hasn’t responded in response to the latest news regarding Interpol. But, he said via Twitter that Terraform Labs is defending itself against multiple jurisdictions.
On September 17th, Kwon announced on Twitter that he would only reveal his location on three conditions; “we are friends, we have plans to meet, we are involved in a GPS-based Web3 game. Otherwise, “you have no business knowing my GPS coordinates.”
South Korean prosecutors have previously said that Kwon was “obviously on the run” as it’s clear he won't’ corporate with investigators. Kwon resides in Singapore, but local police have confirmed that he’s not there.