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Crypto founder behind $60 billion collapse says he is not hiding after Interpol issues arrest notice

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Do Kwon, co-founder and chief government officer of Terraform Labs, insists that he’s not on the run from South Korean authorities. Meanwhile, South Korean prosecutors declare that Interpol has issued a “Red Notice” for the arrest of Kwon. Terraform Labs, the corporate that Kwon based, is behind the collapsed cryptocurrencies terraUSD and luna, which mixed had been price $60 billion earlier than they crashed.

Woohae Cho | Bloomberg | Getty Images

South Korea has been looking for Kwon’s arrest since earlier this month. But prosecutors within the nation have alleged Kwon is on the run. On Tuesday, a spokesperson for the Seoul Southern District Prosecutors’ Office in South Korea’s capital metropolis advised CNBC that world legislation enforcement company Interpol has issued a “Red Notice” for Kwon.

Red Notices are issued for fugitives needed both for prosecution or to serve a sentence, in accordance with Interpol. The discover is a request to legislation enforcement worldwide to find and arrest the particular person in query. This may then result in an extradition.

Kwon, nonetheless, mentioned he was not on the run, utilizing his Twitter account to hit again at authorities.

“I’m writing code in my living room hbu,” Kwon tweeted in reply to somebody asking about his whereabouts.

Kwon insisted he’s making “zero effort to hide” saying he goes on walks and to malls.

Kwon additionally mentioned he doesn’t see his identify on Interpol’s “Red Notice” record. The company doesn’t at all times make these notices public.

Seoul Southern District Prosecutors’ Office sees Kwon as nonetheless being on the run, the spokesperson advised CNBC.

Kwon’s Twitter location says he’s in Singapore. But earlier this month, the Singapore Police Force mentioned that Kwon was not within the city-state.

The South Korean prosecutors mentioned the aim of the Red Notice is to find Kwon, convey him again to South Korea after which officers will resolve inside 48 hours whether or not to problem an arrest warrant for him.

CNBC’s Jihye Lee contributed to this text.

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