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Home Tech Interpol issues “red notice” for Terra stablecoin co-founder Do Kwon

Interpol issues “red notice” for Terra stablecoin co-founder Do Kwon

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Kwon co-founded Terraform Labs whose stablecoin, TerraUSD, collapsed earlier this year. | Illustration by Alex Castro / The Verge

Do Kwon, a co-founder of Terraform Labs, has insisted that he’s not on the run after the collapse of the TerraUSD stablecoin, but Interpol is apparently under the impression he’s a fugitive. According to South Korean publication Yonhap and The New York Times, South Korean prosecutors said that Interpol has issued a “red notice” asking for help from worldwide law enforcement to find and arrest Kwon.

Interpol:

Red Notices are issued for fugitives wanted either for prosecution or to serve a sentence. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.

Earlier this month, South Korea issued a warrant for the arrest of Kwon and five other individuals, and prosecutors believed they were all in Singapore as recently as September 14th. The Seoul Southern District Prosecutors’ Office had asked Interpol to issue the red notice, saying that Kwon was “obviously on the run and has no intention to appear before us for questioning,” the Financial Times reported last Monday.

Kwon has publicly maintained that he isn’t trying to escape. On September 17th, Kwon tweeted that “I am not ‘on the run’ or anything similar.” Earlier this afternoon, after not tweeting for more than a week, he appeared on Twitter again, saying that he is “making zero effort to hide.” Given Interpol’s red notice, perhaps Kwon is trickier to find than he might be letting on.

Interpol’s press office said the organization does not comment on specific cases or individuals and that the “majority” of red notices aren’t made public. You can see which notices are public on Interpol’s website. Terraform Labs didn’t immediately respond to a request for comment.



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