South Korean officials ask Interpol to issue ‘Red Alert’ to Do Kwon, report says

South Korean officials ask Interpol to issue ‘Red Alert’ to Do Kwon, report says
South Korean officials ask Interpol to issue ‘Red Alert’ to Do Kwon, report says

South Korean prosecutors reportedly requested that Interpol intervene in their case against Terra co-founder Do Kwon, issuing a “Red Alert” – suggesting that global law enforcement agencies may try to find and detain him.

According to a Monday (9/19) report by the Financial Times, the Seoul Southern District Prosecutor’s Office said it had “started the procedure” to place Kwon on Interpol’s Red Notice list by following steps to revoke the passport. of Terra’s co-founder while he was in Singapore. Interpol’s website states that a Red Alert is requested by authorities to “locate and provisionally arrest a person pending extradition, surrender or similar legal action”, but the agency cannot compel local authorities to arrest the subject of such a notification.

“We are doing our best to locate and arrest [Kwon],” said a spokesperson for the prosecution. “He is clearly on the run, as his company’s key financial officers also left for the same country during this time.”

Kwon remained active on social media amid potential arrests and prosecutions. Cointelegraph reported on Sunday that the Terra co-founder claimed he was “not ‘on the run’ or anything similar” but did not reveal his location – his Twitter account still showed him in Singapore at the time of publication. Reuters reported on Saturday that Singaporean authorities said Kwon was no longer in the country, having moved there from South Korea in April.

Dear CT – I will tell you what I am doing and where I am if:

1) we are friends
2) we have plans to meet
3) we are involved in a GPS based web3 game

Otherwise you have nothing to do with my GPS coordinates

— Do Kwon (@stablekwon)

The ongoing saga with Kwon and Terra began in May when the TerraUSD Classic (USTC) project algorithmic stablecoin – originally TerraUSD (UST) – decoupled from the US dollar and dropped to nearly zero within weeks. The price of Terra (LUNA) – now Terra Classic (LUNC) – also dropped amid reported liquidity problems on platforms like Celsius.

Kwon, some Terra employees and the company were the subject of an investigation by South Korean financial authorities, who allegedly raided the offices of cryptocurrency exchanges Upbit, Bithumb, Coinone, Korbit and Gopax in July. On September 14, a South Korean court reportedly issued a warrant for the arrest of Kwon and five individuals linked to Terra for allegedly violating capital market laws. However, South Korea does not have an extradition agreement with Singapore.

According to Interpol, there are currently 7,151 publicly named individuals on the agency’s Red Alert list of 69,270. At the time of publication, Kwon was not among them and the only South Korean citizen so named was Lee Changhwan, 59, wanted by Indian authorities.


The article is in Portuguese

Tags: South Korean officials Interpol issue Red Alert Kwon report

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