Because Kwon is about to be wanted by Interpol?

Bloomberg reported that Do Kwon, CEO of Terraform Labs, the person behind the $60 billion cryptocurrency disaster may be issued a red notice by Interpol if he continues to shirk responsibility.

Earlier, Singapore police said that Do Kwon was no longer in the country after entering from South Korea. A few hours later, Do Kwon took to Twitter to assert that he had no intention of fleeing and was ready to “cooperate” with the authorities.

“ Whenever any government agency wants to get in touch, we fully cooperate and have nothing to hide ,” Kwon said, without providing details of his whereabouts. “ We are in the process of defending ourselves, being as honest as we can and looking forward to clarifying the truth over the next few months .”

However, according to Yonhap news agency, Kwon did not cooperate in the investigation process. This man also assured investigators that he did not intend to appear for questioning.

Earlier, the court in Korea officially issued an arrest warrant for Do Kwon and 5 other people for violating the Capital Market Act. The move comes just four months after the collapse of Terraform Labs’ stablecoin UST, blowing away the $40 billion Terra ecosystem.

At the time the Korean court issued the order, this 9x CEO was completely silent. Many sources at the time said that he and some other suspects were in Singapore.

” I will tell you what I am doing, where I am if we are friends, willing to meet and join together in a game on Web3 based on GPS. Otherwise, you do not need to know your GPS What do I do? ” Written by Kwon on his personal Twitter account.

According to Bloomberg, the South Korean prosecutor’s office is currently seeking permission from the Ministry of Foreign Affairs to revoke Kwon’s passport. If approved, the decision will force Kwon to return to Seoul within 14 days. Meanwhile, the Singapore police side confirmed that it would support the Korean National Police agency “within the scope of domestic law and its international obligations”.

Previously, the Luna disaster had “triggered” a series of investigations in both the US and South Korea. In July, prosecutors also raided the home of Daniel Shin, co-founder of Terraform Labs, to gather evidence. Company employees are not allowed to leave the country until the investigation is complete. Korean prosecutors at that time also tried to find a way to invalidate the passport of co-founder Do Kwon.

In response, Do Kwon consistently denied all allegations and affirmed that the Terra project was not a multi-level fraud scheme, and expressed his grief on his personal page about his stablecoins losing all value.

” I have spent the past few days reaching out to the development team, community members, friends and families impacted by reliance on UST. I am deeply saddened by what my invention has caused. out “.

Before that, at the beginning of 2022, Kwon announced that he would buy 10 billion USD of Bitcoin as a reserve for the stablecoin he was building – something that the history of cryptocurrency development had never been recorded before. This event makes Do Kwon the biggest “whale” in the cryptocurrency market.

Terra’s ultimate goal is to create a reliable $1 USD stablecoin that is expected to bypass any government, bank or any regulation. It is known that stablecoins are still mainly used by speculators. They see this as a “shelter” to avoid large risk fluctuations in the market.

By: Bloomberg