Interpol places Terraform Labs founder Do Kwon on the international wanted list

The rate of the LUNA token reacted to the news by a drop of 8% per day

26.09.2022 - 08:15

495

2 min

What’s new? The International Criminal Police Organization (Interpol) has issued a Red Notice against Terraform Labs (TFL) founder and CEO Do Kwon, Bloomberg reports. Such notice is the strictest in the Interpol system, and it means a request to law enforcement agencies around the world to arrest Kwon.

Bloomberg’s material

What is known about the case? In late May, the South Korean prosecutor’s office opened an investigation into TFL employees on suspicion that they knew about the possible collapse of the Terra blockchain ecosystem. Main developers were later banned from leaving the country. The tax authority also reported that TFL was laundering money through a shell company.

In June, the US Securities and Exchange Commission (SEC) also launched an investigation into Kwon on suspicion of involvement in the trading of unregistered securities. South Korean and US authorities met in July to discuss parallel investigations into Terra. In September, a South Korean court issued an arrest warrant for Kwon and five other TFL employees.

As of Sept. 26, 08:35 UTC, the token of the new Terra (LUNA) network is trading at $2,2655, according to crypto exchange Binance. Over the past 24 hours, the asset has lost 7,96%. On the page with the price chart of the asset, Binance representatives also pointed out that Kwon is internationally wanted and warned traders about the risks.

The value of the token of the old Terra Classic (LUNC) network was $0,000208, having decreased by 8,43%.

Author: