Interpol issues ‘red notice’ for Terra stablecoin co-founder Do Kwon

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Kwon co-founded Terraform Labs whose stablecoin, TerraUSD, collapsed earlier this year. | Illustration by Alex Castro / The Verge

Terraform Labs co-founder Do Kwon has maintained that he is not on the run after the TerraUSD stablecoin collapse, but Interpol is apparently under the impression that he is a fugitive. According to South Korean publication Yonhap and The New York TimesSouth Korean prosecutors said Interpol was “red notification” seek help from law enforcement worldwide to find and arrest Kwon.

Interpol:

Red Notices are issued for fugitives wanted for prosecution or serving a sentence. A Red Notice is a request to law enforcement officers around the world to locate and provisionally arrest a person pending extradition, surrender or similar legal action.

Earlier this month, South Korea issued an order for the arrest of Kwon and five other persons, and prosecutors believed they were all in Singapore on September 14. The prosecutor’s office in Seoul’s southern district had asked Interpol to issue the red notice, stating that Kwon was “clearly on the run and had no intention of appearing before us for questioning.” the Financial times reported last Monday.

Kwon has publicly maintained that he is not trying to escape. On September 17, Kwon tweeted that: “I’m not ‘on the run’ or anything like that.” Earlier this afternoon, after not tweeting for over a week, he reappeared on Twitter and said he is “make no effort to hide.” Given Interpol’s red warning, Kwon may be harder to find than he may be letting on.

Interpol’s press service said the organization will not comment on specific cases or individuals and the “majority” of red messages will not be made public. You can see which announcements are public on Interpol’s website. Terraform Labs did not immediately respond to a request for comment.


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