The founder of a cryptocurrency that caused users to lose millions of dollars is wanted in 195 countries

Interpol has issued a «red notice» to law enforcement agencies around the world for the arrest of Terraform Labs co-founder Do Kwon. This became known from a statement by the South Korean prosecutor’s office to Bloomberg. The news appeared on the agency’s website a week after law enforcement officials appealed to the international wanted list with a request to join the detention of Kwon.

It was previously believed that Do Kwon was living in Singapore, but local authorities denied this on September 17. On the same day, Kwon said on Twitter that he was not trying to flee or hide from justice, although he did not disclose his current whereabouts.

An INTERPOL Red Notice is a warning to law enforcement agencies around the world to locate and arrest a person and hold him or her until extradition proceedings are initiated. The relevant document on Do Kwon was sent to the heads of police in 195 countries.

As a reminder, the Terra ecosystem, co-founded by Kwon, collapsed after its algorithmic stablecoin TerraUSD (UST) lost its peg to the US dollar in May. This led to billions of dollars in losses for investors in the cryptocurrency market. The founder and CEO of TerraformLabs is accused by the South Korean authorities of violating the country’s financial markets legislation. The country’s authorities are currently considering revoking Kwon’s passport.