South Korean Prosecutors Seek International Arrest Warrant for Terra Co-Founder Do Kwon

South Korean Prosecutors Target Terra Co-Founder Do Kwon

South Korean prosecutors have requested Interpol to issue an international arrest warrant for Do Kwon, co-founder of the Terra/Luna cryptocurrency network. This move follows the network's high-profile collapse earlier this year, which triggered a chain reaction of defaults in the crypto investment sector.

Do Kwon's Whereabouts Remain Unknown

Kwon's current location is unclear. Initially believed to be in Singapore, authorities in the city-state have confirmed that he is no longer there. Despite claims of cooperation, prosecutors argue that Kwon and his team have been evading authorities since April.

Kwon Denies Being a Fugitive

On Twitter, Do Kwon denied being on the run, stating that he is cooperating with investigations and has nothing to hide. He also mentioned that his team is defending itself in multiple jurisdictions and upholding high standards of integrity.

Prosecutors Dismiss Kwon's Claims

South Korean prosecutors remain unconvinced, pointing out that key finance personnel linked to Terra/Luna also relocated to Singapore around the same time as Kwon. Authorities believe this indicates an attempt to evade legal scrutiny.

Implications for the Crypto Market

The collapse of Terra/Luna has had far-reaching consequences, shaking investor confidence and prompting tighter regulatory scrutiny of the cryptocurrency sector. The pursuit of Do Kwon highlights the growing legal challenges faced by crypto founders in the wake of major failures.