We have received information that INTERPOL and South Korea are looking for the person who created a cryptocurrency which is currently bankrupt. He disappeared after having caused a loss of US$ 40 billion, approximately R$ 207 billion at the current exchange rate. Do Kwon, as he is known, entered the INTERPOL red category, as South Korean prosecutors allege that he refused to cooperate with the investigation into the collapse of Terraform Labs.
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This billionaire blunt that happened in the company ended up drastically damaging some Terra cryptocurrency investors, and also the digital currency market. Terraform Labs was created in January 2018, with Kwon and Daniel Shin as partners.
To give you an idea of how serious this situation is, an official from the Seoul Southern District Prosecutor's Office informed the news agency AFP that the Public Ministry has been requesting the cancellation of his South Korean passport because he is considered a fugitive from justice in the country.
It is also important to comment here that, according to information disclosed by the Financial Times, the prosecution guarantees that the 31-year-old computer engineer, who completed his graduation at Stanford, in the United States, ended up deactivating the Terraform Labs unit, which is headquartered in South Korea, and left for Singapore. Do Kwon's escape apparently coincided with the time when the financial collapse was getting worse.
An arrest warrant has also been issued against Kwon and five other people linked to cryptocurrencies on account of a possible violation of the country's capital regulations. So far, he has not been captured or arrested, and he even used his social networks to try to defend himself against the accusations he received.
What did Kwon, the creator of the Terra cryptocurrency, say?
Kwon stated on his social media that he was not running away, and that he is willing to collaborate with any government agency. He further added that he is in the process of mounting a defense in multiple jurisdictions. However, even though he has said that he is not on the run, city-state police say the businessman has not been found in Singapore, which would be the place where he fled before the collapse of the company, according to information from prosecution.
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