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Following a request by South Korean prosecutors, Interpol has positioned Terraform Labs founder Do Kwon on a “pink discover” listing, TechCrunch has reported. That can create a request for legislation enforcement businesses world wide to arrest Kwon following his blockchain firm’s collapse that took $40 billion from traders with it.
After Korean authorities issued an arrest warrant for Kwon final week, he tweeted that he was “not on the run” or “something comparable.” Nonetheless, prosecutors mentioned that they believed Kwon left Korea to “evade investigation” as he advised them via his legal professionals that he did not intend to look earlier than questioning. “He’s clearly on the run as his members of the family and the corporate’s key finance individuals additionally left for a similar nation [Singapore] on the similar time,” they mentioned.
Kwon and different Terraform Labs’ staff are below investigation for monetary fraud and tax evasion following the collapse of its stablecoins, TerraUSD and Luna. The traders, a lot of whom misplaced their life financial savings following the collapse, filed complaints accusing him of operating a Ponzi scheme. The crash of the Luna token additionally performed a roll within the collapse of the crypto hedge fund Three Arrows Capital.
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