South Korean authorities said Interpol has issued a Red Notice for Terraform Labs co-founder Do Kwon, Bloomberg reported.
The development follows the collapse of the Terra blockchain, leading to multiple millions of dollars in losses. This prompted an arrest warrant issued by a South Korean court for six individuals, including Kwon, for violating South Korea’s capital market laws, alongside other allegations.
Prosecutors for the court also believed that the six individuals were in Singapore.
However, after Singaporean police reported Kwon was not in the city-state, the Terraform Labs co-founder made a Twitter post stating he is “not on the run” and that his team is “in full cooperation and we don’t have anything to hide.”
Terraform Labs previously operated the Terra crypto ecosystem, which saw a crash in May that led to a loss of over US$40 billion in investor wealth.
See also: Terra, Celsius raise prospects for crypto insurance
Editing by Miguel Cordon and Lorenzo Kyle Subido
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