Do Kwon, founder of the collapsed crypto Terra LUNA/USD and terraUSD, has been issued an international arrest warrant over the collapse of his blockchain platform Terraform Labs and multiple criminal charges slapped by South Korea.
What Happened: The International Criminal Police Organization has issued a 'Red Notice' For Kwon, who faces charges in South Korea over the $60 billion wipeout of cryptocurrencies he created, according to a Bloomberg report, which cited South Korean officials.
A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender or similar legal action, according to Interpol.
Why It Matters: Kwon's whereabouts are not clear as Singapore authorities last week said he was no longer in their country, adding that they would help South Korean authorities as much as possible.
Last week, a South Korean court issued an arrest warrant for Kwon and five others following the collapse Terraform Labs.
Kwon, however, has made light of the issue, tweeting a couple of weeks ago that he has not gone "running in a while" and needed to "cut some calories."
Tbh havent gone running in a while, need to cut some calories https://t.co/SP9VtS5ob2— Do Kwon 🌕 (@stablekwon) September 17, 2022
Price Action: Terra traded 11% lower at $2.17 on Sunday, according to data from Benzinga Pro. It traded 10.7% lower against Bitcoin BTC/USD and 9.78% lower against Ethereum ETH/USD over 24 hours.
Photo courtesy: Terraform Labs
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