Interpol issues red notice for Terra founder Do Kwon – By Manish Singh & Kate Park (Techcrunch) / Sept 25, 2022
Interpol has issued a red notice for Do Kwon, requesting law enforcement agencies worldwide to search and arrest the Terraform Labs founder whose blockchain startup collapsed earlier this year.
The collapse of Terra cryptocurrency (Luna) and the so-called stablecoin TerraUSD (UST) wiped out investors’ $40 billion, prompting an uproar that caused the prosecutors to launch investigations into Kwon and his colleagues. He faces charges in South Korea, the prosecutors said Monday.
The notice against Kwon — which a spokesperson for the South Korean prosecutors confirmed to TechCrunch — however, may set a wrong precedent for the crypto industry and hurt innovation, especially if Kwon didn’t knowingly defraud investors and customers, several industry executives have said in recent weeks.
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