A Red Notice is a “request to law enforcement agencies around the world to locate and provisionally detain a person pending extradition, surrender, or similar legal action,” according to the Interpol website.
It also comes less than two weeks after South Korean authorities issued an arrest warrant for Kwon and five other associates for alleged violations of the country’s capital market laws.
Kwon was previously believed to be residing in Singapore, but local authorities said on September 17 that he was not in the country, and hours later Kwon said he was not “at large”, although he did not reveal his location.
Ever since UST collapsed and caused the collapse of Terraform Labs, South Korean authorities have been trying to get Do Kwon to explain. However, prosecutors believe that his departure for Singapore and the dissolution of his company’s local offices have been clear examples of an attempt to evade an in-depth investigation.
Added to this are the complaints and demands of thousands of savers, who have seen their money disappear overnight. Some even accuse the businessman of having set up a pyramid scheme.
But not everyone in the cryptocurrency ecosystem believes that Interpol’s intervention is positive. According to TechCrunch, specialists consider that the emission of the red alert can set a dangerous precedent for the industry and harm innovationespecially if Do Kwon didn’t defraud investors on purpose.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
