Prosecutors looking into the crash of the cryptocurrencies TerraUSD and Luna have requested that Interpol issue a Red Notice against Terraform Labs CEO Do Kwon.
Prosecutors at the Seoul Southern District Prosecutors’ Office said they made the request on Monday after they were granted arrest warrants from a local court last week for six people implicated in the case, including the 31-year-old South Korean, on charges of capital market law violations.
Initially, Kwon was reported to be staying in Singapore but foreign media quoted local police last Saturday as dismissing such claims.
Upon the issuance of a Red Notice for fugitives wanted to face prosecution or serve a sentence, all 195 national central bureaus are notified and border officials are required to forcibly repatriate suspects to the country that requested the notice.
It is expected to take more than ten days for Interpol to issue the Red Notice.
The prosecution in Seoul is investigating the collapse of Kwon’s TerraUSD “stablecoin” and its sister token Luna, which led to a global wipeout of more than 200 billion U.S. dollars from the cryptocurrency market.