TECH

Interpol is looking for founders given Luna and TerraUSD cryptocurrencies

It became known that Interpol, at the request of the South Korean Public Prosecutor's Office, issued an arrest warrant for the founder of the Terraform Labs cryptocurrency platform, Do Kwon. This means law enforcement agencies around the world will take steps to find and arrest Kwon. After the collapse of the cryptocurrency platform, which claimed over $42 billion from investors, Kwon is accused of fraud and theft of funds.

Last week, South Korean authorities issued an arrest warrant for Kwon, after which he wrote on his Twitter page that he was not on the run. However, the prosecution believes Kwon left the country to "escape the investigation". The department noted that Kwon himself, his family members and key Terraform Labs employees left the country and went to Singapore around the same time.

Kwon and other Terraform Labs employees are under investigation for financial fraud and tax evasion following the collapse of the platform’s TerraUSD and Luna cryptocurrencies. Investors, many of whom lost their funds after these assets collapsed, have filed complaints with regulators. One of the victims of the Terraform Labs platform crash was the largest cryptocurrency hedge fund, Three Arrows Capital.

AVnews