South Korean prosecutors have asked Interpol to issue a red notice against Do Kwon, the co-founder of collapsed cryptocurrency operator Terraform Labs, alleging that he is refusing to co-operate with an investigation into the $40bn implosion of the terraUSD and luna tokens.
The Seoul Southern District Prosecutors’ Office said on Monday that it asked Seoul’s foreign ministry to cancel Kwon’s South Korean passport as he was “obviously on the run and has no intention to appear before us for questioning”.
“We have begun the procedure to place him on the Interpol red notice list and revoke his passport,” the prosecutors’ office said, adding that Kwon had not co-operated with investigations into his company’s collapse.
An Interpol 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’s website. Red notices are issued for fugitives wanted for prosecution or to serve a sentence.
The prosecutors’ office said that Kwon told investigators through his lawyer that he did not want to respond to their summons immediately.
Prosecutors said he disbanded the South Korean unit of Terraform Labs and left for Singapore at the end of April.
“We are doing our best to locate and arrest him,” a spokesperson for the office said. “He is clearly on the run as his company’s key finance people also left for the same country during that time.”
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