{"id":264097,"date":"2022-09-26T12:20:54","date_gmt":"2022-09-26T11:20:54","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=264097"},"modified":"2022-09-26T11:41:44","modified_gmt":"2022-09-26T10:41:44","slug":"interpol-issues-worldwide-arrest-warrant-for-do-kwon","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/interpol-issues-worldwide-arrest-warrant-for-do-kwon\/","title":{"rendered":"Interpol issues worldwide arrest warrant for Do Kwon"},"content":{"rendered":"<p>The International Criminal Police Organization (Interpol) issued a red notice for <a href=\"https:\/\/cryptoslate.com\/companies\/terraform-labs\/\">Terraform Labs<\/a> founder <a href=\"https:\/\/cryptoslate.com\/people\/do-kwon\/\">Do Kwon<\/a> on Sept. 26, requesting law enforcement worldwide to locate and arrest him, as reported by <a href=\"https:\/\/techcrunch.com\/2022\/09\/25\/do-kwon-interpol\/\"><em>TechCrunch<\/em><\/a>.<\/p>\n<p>Interpol releases such notices for fugitives that are wanted either for prosecution or to be sentenced. As per the institutions' global stance, Interpol's red notices apply to all law enforcement worldwide. In other words, Do Kwon has nowhere to run.<\/p>\n<h2>Do Kwon on the run<\/h2>\n<p>Tera's stablecoin TerraUSD (UST) <a href=\"https:\/\/cryptoslate.com\/terras-ust-in-free-fall-drops-200-basis-points-against-the-dollar\/\">lost<\/a> its peg in early May, leading to the collapse of the Terra (<a href=\"https:\/\/cryptoslate.com\/coins\/terra\/\">LUNA<\/a>) ecosystem and the emergence of the coldest winter in crypto history. The community mostly believes that a coordinated attack by Kwon caused the <a href=\"https:\/\/cryptoslate.com\/terrausd-dollar-peg-rocked-by-weekend-dump-luna-drops-20\/\">failure<\/a>.<\/p>\n<p>Days after its collapse, Do Kwon admitted he feared for his safety and requested police protection after an unknown individual <a href=\"https:\/\/cryptoslate.com\/do-kwon-fears-for-his-safety-following-terra-luna-implosion\/\">attempted<\/a> to enter Kwon's house in Seoul. After the incident, Kwon fled Korea and moved to Singapore, saying that his location was revealed.<\/p>\n<p>After that, Kwon was accused of <a href=\"https:\/\/cryptoslate.com\/do-kwon-accused-of-siphoning-8m-a-month-from-failed-terra-project\/\">withdrawing<\/a> $80 million per month and about $<a href=\"https:\/\/cryptoslate.com\/do-kwon-denies-fresh-allegations-of-withdrawing-2-7b-from-terra-ecosystem-via-degenbox\/\">2.7 billion<\/a> in total from the Terra project. As a result, the U.S. and South Korea <a href=\"https:\/\/cryptoslate.com\/us-south-korea-to-cooperate-over-terra-investigation\/\">collaborated<\/a> to investigate the Terra Luna case. The U.S. Securities and Exchange Commission opened an investigation into Terra and Kwon to see if it broke the rules for securities and investment products. On the other hand, Kwon <a href=\"https:\/\/cryptoslate.com\/terras-do-kwon-says-there-are-lots-of-misinformation-as-reports-emerge-that-sec-is-investigating-ust\/\">claimed<\/a> that the SEC investigation was run on &#8216;misinformation.'<\/p>\n<p>In July, South Korea <a href=\"https:\/\/cryptoslate.com\/south-korea-issue-notification-of-arrival-for-terras-do-kwon\/\">issued<\/a> a notification of arrival for Kwon \u2014 obligating related authorities to notify law enforcement if Kwon entered the country. Weeks passed as the <a href=\"https:\/\/cryptoslate.com\/south-korean-officials-conclude-week-long-raid-in-terra-luna-case\/\">investigations<\/a> continued, and Kwon lawyered <a href=\"https:\/\/cryptoslate.com\/do-kwon-hires-lawyer-in-preparation-for-defense-in-south-korea\/\">up<\/a> against South Korea.<\/p>\n<p>On Sept. 14, South Korea <a href=\"https:\/\/cryptoslate.com\/luna-sinks-20-after-south-korea-issues-arrest-warrant-for-do-kwon\/\">issued<\/a> an arrest warrant for Kwon, saying he was unresponsive in communicating with the authorities to contribute to the investigation. On Sept. 19, South Korea <a href=\"https:\/\/cryptoslate.com\/south-korea-upgrades-wanted-status-of-terra-founder-do-kwon-asks-for-red-notice\/\">requested<\/a> Interpol to aid in the search by issuing a worldwide arrest warrant for Kwon.<\/p>\n<h2>Impact on the crypto industry<\/h2>\n<p>The Terra collapse <a href=\"https:\/\/cryptoslate.com\/nansen-report-reveals-terra-caused-the-steth-depeg-and-crippled-celsius-3ac\/\">affected<\/a> staked Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>) and led to a domino effect that <a href=\"https:\/\/cryptoslate.com\/the-downfall-of-three-arrows-capital-3ac-what-went-wrong\/\">caused<\/a> <a href=\"https:\/\/cryptoslate.com\/companies\/three-arrows-capital\/\">Three Arrows Capital<\/a> (3AC) and <a href=\"https:\/\/cryptoslate.com\/companies\/celsius-network\/\">Celsius<\/a> to go <a href=\"https:\/\/cryptoslate.com\/celsius-officially-declares-bankruptcy-after-paying-down-defi-loans\/\">bankrupt<\/a>. It also started the most challenging winter market ever seen in crypto history, leading to a <a href=\"https:\/\/cryptoslate.com\/blockchain-com-downsizes-by-25-after-3ac-collapse\/\">downsizing<\/a> trend and miners' <a href=\"https:\/\/cryptoslate.com\/bitcoin-miners-sell-during-the-downturn-what-does-this-mean\/\">sell-off<\/a>.<\/p>\n<p>In addition to all these, the Kwon case has the potential to impact crypto's reputation further. Crypto investment company, Dragonfly's Managing Partner, commented on the Kwon case during a podcast and said:<\/p>\n<blockquote><p>\u201cHaving met Do Kwon \u2026 leaving how he is a person aside \u2026 I think the criminalization of Terra is a dangerous precedent,\u201d<\/p><\/blockquote>\n<p>South Korean authorities also admitted that the Kwon case might cause fear, set a wrong precedent for the crypto industry, and hurt innovation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Criminal Police Organization (Interpol) issued a red notice for Terraform Labs founder Do Kwon on Sept. 26, requesting law enforcement worldwide to locate and arrest him, as reported by TechCrunch. Interpol releases such notices for fugitives that are wanted either for prosecution or to be sentenced. As per the institutions&#8217; global stance, Interpol&#8217;s [&hellip;]<\/p>\n","protected":false},"author":1262,"featured_media":264149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Interpol issues worldwide arrest warrant for Do Kwon<\/title>\n<meta name=\"description\" content=\"Interpol issues a red warrant for Do Kwon, ordering law enforcement worldwide to locate and arrest him.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/interpol-issues-worldwide-arrest-warrant-for-do-kwon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interpol issues worldwide arrest warrant for Do Kwon\" \/>\n<meta property=\"og:description\" content=\"Interpol issues a red warrant for Do Kwon, ordering law enforcement worldwide to locate and arrest him.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/interpol-issues-worldwide-arrest-warrant-for-do-kwon\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-26T11:20:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-26T10:41:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/09\/image_2022-09-26_154029299.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Zeynep Geylan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zeynep Geylan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/interpol-issues-worldwide-arrest-warrant-for-do-kwon\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/interpol-issues-worldwide-arrest-warrant-for-do-kwon\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#person\",\"name\":\"Zeynep Geylan\",\"url\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"caption\":\"Zeynep Geylan\"},\"jobTitle\":\"Journalist\",\"description\":\"Zeynep is an academic who turned to crypto in 2018. 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Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power. Research and writing are her favorite things in life, followed by dogs and burgers.","url":"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/264097"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/1262"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=264097"}],"version-history":[{"count":6,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/264097\/revisions"}],"predecessor-version":[{"id":264151,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/264097\/revisions\/264151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/264149"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=264097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=264097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=264097"},{"taxonomy":"prediction_market_topic","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/prediction_market_topic?post=264097"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=264097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}