South Korea requests Interpol to issue Red Notice against Do Kwon

South Korea has asked Interpol to issue a Red Notice against its national Kwon Do-hyung, co-founder of Singapore-based TerraForm Labs, per media reports, for not cooperating with authorities.

On Sept 14, the Seoul Southern District Prosecutors’ office issued an arrest warrant for Do Kwon, as he is commonly known, as the catastrophic Terra collapse in May wiped out $40 billion of investors’ money. That is not all, the crash started a domino effect taking the crypto market with it and dissolving around $500 billion (yes, that’s five followed by 11 zeros) in losses.

In simple words, Do Kwon is accused of fraud and is under investigation by the SEC.

Prosecutors assert that TerraForm Labs violated market capital rules. It is believed that Kwon is in Singapore, but the police told press reporters that he was not in the city.

A Red what?
A Red Notice is an international document against wanted persons, requesting law enforcement agencies around the world to locate and temporarily detain a suspect until their extradition, surrender, or other legal action.

In a vehement denial on Twitter, Do Kwon said: “I am not “on the run” or anything similar—for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide.”