South Korean prosecutors investigating Terra (LUNA) founder Do Kwon have reportedly requested Interpol to position a pink discover on the crypto entrepreneur as his whereabouts stay unknown.
In keeping with a report from The Monetary Instances, prosecutors additionally mentioned that they’d requested Seoul’s international ministry to cancel Kwon’s passport as he was “clearly on the run and has no intention to look earlier than us for questioning”.
In keeping with Interpol, a pink discover is a request to worldwide regulation enforcement worldwide to “find and provisionally arrest an individual pending extradition, give up or related authorized motion.”
The prosecutors’ workplace reportedly mentioned that they’d already begun the process to position Kwon on Interpol’s pink discover listing and revoke his passport.
Over the weekend, Kwon denied that he was evading authorities, opposite to stories.
“I’m not ‘on the run’ or something related – for any authorities company that has proven curiosity to speak, we’re in full cooperation and we don’t have something to cover.
We’re within the technique of defending ourselves in a number of jurisdictions – now we have held ourselves to an especially excessive bar of integrity, and sit up for clarifying the reality over the subsequent few months.”
In Might, the Terra ecosystem imploded when its stablecoin UST, misplaced its peg. Each UST and LUNA went to primarily zero in a matter of days, inflicting roughly $40 billion in damages to traders.
Kwon has been accused by South Korean authorities of operating a “Ponzi fraud,” particularly with Terra-based decentralized finance platform Anchor Protocol, which was providing UST traders returns of roughly 20%.
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