Early hours of Monday, September 26, Interpol issued a Red Notice against the founder of Luna Classic, DO Kwon. This issuance resulted from Do Kwon losing more than $60 billion in investors’ wealth. The prosecutors in South Korea explained that Kwon is facing charges for the erosion of investors’ money. In addition to his charges, Do Kwon stands accused of violating the ‘Capital Markets Law,’ with multiple breaches cited. Related Reading: Bitcoin Shows Resilience In Dollar-Driven Bloodbath | BTCUSD September 26, 2022 This issue has created conversations in the crypto market regarding the future of Terra firm and the algorithmic stablecoins. This article details events surrounding Do Kwon and how he made it into Interpol’s most wanted List. Earlier Developments Leading To Kwon’s Red Notice Earlier this year, the Terra ecosystem collapsed, unheard of in an evolving Defi space. The crash hurt the crypto market, with other financial markets feeling its effects. Crypto Analysts believe that investors lost over $45 billion in wealth. After the crash, he relocated Terra Headquarters from South Korea to Singapore due to being under investigation for tax evasion charges in South Korea. In an interview, the Terra founder said he would cooperate with investigative agencies in the Terra crash and has nothing to hide. Further, Do Kwon acclaimed that he is a man with an “extremely high bar of integrity.” However, South Korean prosecuto...
