Interpol has issued a red notice for Do Kwon, requesting law enforcement agencies worldwide to locate and arrest the Terraform Labs founder whose blockchain startup collapsed earlier this year and wiped out investors’ $40 billion.
Kwon faces charges in South Korea for the wipeout of investors’ money, the prosecutors said.
The notice against Kwon — which a spokesperson for the South Korean prosecutors confirmed to TechCrunch — may set a wrong precedent for the crypto industry and hurt innovation, especially if Kwon didn’t knowingly defraud investors and customers, several industry executives have said in recent weeks.
“Having met Do Kwon … leaving how he is a person aside … I think the criminalization of Terra is a dangerous precedent,” said Haseeb Qureshi, Managing Partner of crypto investment fund Dragonfly, on a recent podcast. Qureshi, however, cautioned that he, like many others, doesn’t know all the details.
South Korean prosecutors have doubled down on their probe into Kwon in...
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