Interpol issued Do Kwon a red notice and called in all the police to hunt down the mastermind behind the recently defunct blockchain startup Terraform Labs.
The collapse of the digital currency Luna (Luna) and the supposed stablecoin TerraUSD (USD) cost fund sponsors $ 40 billion, creating a frenzy that prompted researchers to pursue Guan et al. The coach said on Monday that he will have to deal with South Korea’s punishment.
However, the statement against Kwon, confirmed to TechCrunch by a representative of South Korean auditors, could start an unusual trend for the crypto business and affect growth, especially if Kwon does not deliberately deceive sponsors and customers. Some industry leaders have just done that. Haseb Kurashi, who tracks Crypto Reserve Dragonfly’s investment partner, said, “Because he has met KVO … as he is on the one hand of the person … I think it is a dangerous reference to Earth.”
However, Kurashi recommended that there is no insulting idea of any technique like others. Recently, South Korean investigators intensified their search for Kwon, accusing the businessman of being “uncooperative” and “conspicuously absent.” Interpol, the world’s police association, recently mentioned issuing a red notice to Kwan. Terraform Labs supposedly stablecoin USD and digital currency Luna fell in May after financial backers lost faith in the sufficiency of the underlying assets.
Kwon, with the approval of the Terraform People Group, has revived the crypto project, although he is staying away from the algorithmic stablecoin side until further notice. The company’s previous stalcoin, TerraUSD (USD), collapsed due to the Luna token involvement.
The collapse of Luna Token was added to the collapse of Three Bolts Capital, a large diversified cryptocurrency investment firm. The death of this asset seriously affected various crypto lenders, including BlockFi, from which it took billions of dollars.
South Korea recently issued an arrest warrant for Kwon, which led to several supporters selling the recovered Luna token. “We are now defending ourselves in many sectors – we have a high level of confidence and expect to clarify the reality in the next few months,” Govan tweeted this month.