Including different countries in the world Interpolintervened, demanding the discovery and arrest of Terra ecosystem founder Do Kwon, who collapsed in May.
BBC Korea announced that 31-year-old Do Kwon, who was accused of fraud due to the company’s $40 billion collapse, is wanted with a red notice.
As Koinfinans.com stated, Do Kwon also faced an arrest warrant in South Korea, where he is a citizen.
DoKwon, terra He went to Singapore in May before his ecosystem collapsed, but officials believe he is no longer there.
South Korean prosecutors requested Interpol to include him on the red notice list, and authorities complied with the request and asked the foreign ministry in Seoul to revoke his passport, saying Do Kwon was “a fugitive”.
Do Kwon continues to deny that he is hiding, but does not reveal where he is.
https://twitter.com/stablekwon/status/1571197156907679745?s=20&t=x_ZHwIfb4qcqbXG3g6DnGA
Prosecutors also issued arrest warrants for five other unnamed individuals linked to the so-called stablecoin Terra and its sister token Luna.
Stablecoins are designed to have a relatively fixed price and are usually pegged to a real-world commodity or currency, but Terra’s value has lost its value during this year’s wider cryptocurrency crash.
The token, which had the highest value of $ 116 in April, is currently valued at a very low $ 0.0002.
Globally, investors in the two cryptocurrencies lost an estimated $42 billion, according to blockchain analytics firm Elliptic.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.