Prosecution requests Interpol’s help in tracking down Terraform Labs’ Do Kwon

SEOUL– South Korean prosecutors said Monday they have requested Interpol’s assistance to trace the whereabouts of Do Kwon, the wanted founder of Terraform Labs accused of fraud following the massive collapse of the firm’s cryptocurrencies earlier this year.

The request came after Singapore’s police said Saturday that Kwon was not in the city state, where prosecutors had believed he was residing.

The blockchain firm has been under investigation for alleged fraud and tax evasion after investors in its cryptocurrencies — TerraUSD and Luna — filed complaints against Kwon in May, accusing him of carrying out a Ponzi scheme over the loss of billions of won following the crash of both coins earlier that month.

The Seoul Southern District Prosecutors Office recently had court arrest warrants issued for Kwon and five others — including Terraform founding member Nicholas Platias — in efforts to repatriate them and place them under custody.

Prosecutors have also requested the foreign ministry to invalidate the passports for the five South Korean nationals under investigation.

Source: Yonhap News Agency

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