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America November 15, 2022 2 mins read

Luna, TerraUSD co-founder Do Kwon on the run, wanted by Interpol

America ı By Jackie Allen

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Interpol granted issued a “red notice” requested by South Korean prosecutors for Do Kwon aka Kwon Do-hying, in September. This made him a wanted man among the 195 member countries of Interpol.

The whereabouts of the South Korean co-founder of the now defunct cryptocurrencies Luna and TerraUSD (UST) are now unknown. But he maintains an active Twitter account with over 1 million followers.

South Korean authorities and Interpol issued arrest warrants for Kwon and five other associates linked to Terraform Labs cryptocurrencies. The Singapore Police claim the crypto developer violated South Korea’s Capital Markets Act.

Luna, and sister token UST, fell from a high of $116 to less than $0.0002 in April. And global investors reportedly lost an estimated $42 billion from the May implosion of the companies. Which has been described as a $60 billion meltdown of the once-popular cryptocurrencies.

The Singapore Police Force announced in September when the arrests warrants were issued that “SPF will assist the Korean National Police Agency (KNPA) within the ambit of our domestic legislation and international obligations. Do Kwon is currently not in Singapore.” 

Do Kwon @stablekwon

The 31-year-old Stanford University alumni was reported to be living in Singapore when UST and Luna crashed. 

Sometime in September, Do Kwon fled Singapore for Dubai. And when he was spotted in Dubai, he disappeared again. On October 20, authorities reported that Kwon fled for an unknown location 

South Korean prosecutors revoked Kwon’s passport, because they believed the cryptocurrency founder was “on the run.”  And denies he is running.

“I am not ‘on the run’ or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation, and we don’t have anything to hide,” Kwon said in a flurry of tweets on Sept. 17.

“We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity and look forward to clarifying the truth over the next few months.” Kwon tweeted.

The quixotic Kwon is actively engaging the Terra community via Twitter.  In a November 3rd tweet, the Terra founder claimed to be involved in some ‘creative’ work in the last few weeks.

According to an October report from Naver the Korean news portal, Kwon left Dubai. The UST developer currently holds an invalid passport. And is believed to be somewhere in Europe.

 

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Jackie Allen

Jackie is a freelance journalist and technology geek. She worked as a telecom project director for AT&T and BellSouth. Before joining the USA Herald she has written books, articles, blogs and whitepapers. Her clients include Samsung and other technology companies.

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