Interpol orders arrest of Du Kwon, responsible for Terra crypto crash

Interpol orders arrest of Du Kwon, responsible for Terra crypto crash

The Red Notice is a “request to law enforcement agencies around the world to locate and temporarily detain a person pending extradition, extradition, or similar legal action”, According to the Interpol website.

It also comes less than two weeks after South Korean authorities issued an arrest warrant for Kwon and five other accomplices for alleged violations of the country’s capital market laws.

Kwon was previously thought to reside in Singapore, but local authorities said on September 17 that he had not been in the country, and hours later Kwon said he was not “at large,” although he did not disclose his whereabouts.

Since the underground tanks collapsed and caused the collapse of Terraform Labs, South Korean authorities have been trying to persuade Do Kwon to explain. However, prosecutors believe that His departure to Singapore and the dissolution of his company’s local offices were clear examples of an attempt to evade an in-depth investigation.

Added to this are the complaints and demands of thousands of savers who saw their money disappear overnight. Some even accuse the businessman of setting up a pyramid scheme.

But not everyone in the cryptocurrency ecosystem thinks Interpol’s intervention is positive. According to TechCrunch, specialists consider the emission of A red alert can set a dangerous precedent for the industry and hurt innovationEspecially if Do Kwon didn’t defraud investors on purpose.

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