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On Monday, South Korean prosecutors announced that Terraform Labs co-founder Do Kwon, who is currently under investigation in South Korea for the $40 billion collapse of the algorithmic stablecoin Terra, is facing a red notice from Interpol.


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“A red notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action,” Interpol says, pointing out that it’s typically reserved for fugitives from the law who are being pursued to serve a sentence or awaiting prosecution.

The 31-year-old has been in embroiled in a legal battle in South Korea after Terra's collapse this year saw billions wiped from investors. Now, Interpol and South Korean prosecutors are asking law enforcement agencies around the world to locate and arrest the elusive crypto figure.

In May, the sister coins Terra and Luna cratered, dropping the price to almost zero. Although the coin peaked at $116 a month before its collapse, the price is a paltry $0.0002 today. 

Recently, Singapore police announced that Kwon, who is a native of South Korea, was not in their territory, the headquarters for his embattled company. The whereabouts of the high-profile crypto founder remain murky, and South Korea has already put in a request to cancel Kwon’s passport, making it even harder for the Terra co-founder to travel. 

Kwon's Twitter activity has crawled to a halt and the co-founder has gone silent on social media. On September 17, Kwon flippantly dismissed rumors on social media that he was on the lam from authorities. He jocularly wrote, "I haven't gone running in a while, need to cut some calories."

This was a response to a Tweet where he doubled down on his claim that he was cooperating with law enforcement bodies instead of ignoring them: "I am not 'on the run'," Kwon said. "For any government agency that has shown interest to communicate, we are in full cooperation and we don't have anything to hide."