South Korea Interpol action plan to catch Do Kwon

South Korea

TL;DR Breakdown

  • South Korea Interpol action plan to catch Do Kwon
  • The country has revoked Do Kwon’s passport
  • Do Kwon offers dialogue with governments

South Korea has issued a plea to Interpol to issue a red notice against the co-founder of Terra ecosystem, Do Kwon. According to the statement, the move is per of a larger plan to ensure that the Terra boss is apprehended to answer for the mishap that occurred with the ecosystem. In the report shared by several sources, South Korea plans to finalize a procedure to see Do Kwon placed on the red list.

South Korea revokes Do Kwon’s passport

The report claims that South Korea also wants his passport revoked, among other shared details. The red list contains a list of individuals across the world that are wanted by Interpol. The individuals are generally considered fugitives with cases to answer like Do Kwon or are wanted for crimes.

Presently, the Terra boss has not been placed on the list. Some days ago, prosecutors in South Korea officially issued a warrant against Do Kwon. In the warrant, the prosecutors claimed that he violated some rules. In addition, there have been calls to confiscate his passport. When the warrant came out, the police searched for the Terra boss at his Singapore home address but could not find him there.

Do Kwon proposes dialogue with governments

After authorities confirmed that he was nowhere to be found in the country, Do Kwon took to Twitter to say that he was not on the run. He noted that should any government want a dialogue, he and his team are ready to discuss with them as their activities have been straight over the years. Terra has been in the market since it launched in 2020, with both the stablecoin and the Terra token the native digital assets of the ecosystem. The mishap occurred in May after the stablecoin lost its peg, resulting in its massive crash. In the following weeks, more than billions in dollars were wiped off the token’s value.

After the collapse, authorities worldwide started to look into the company’s and its executives’ activities. Off the back of a lawsuit against the company in northern California, its executive and co-founder Daniel Shim were accosted by prosecutors in South Korea. The country also set up a new crime unit to investigate the company’s activities during the issue. Do Kwon has claimed that anything fishy led to the collapse, with the Terra boss claiming that he also lost some of his net worth in the crash.

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Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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