Interpol issues red notice for Terraform founder Do Kwon

The founder of Terraform Labs, Do Kwon, is wanted by law enforcement agencies around the world for his alleged role in the collapse of the company.

The prosecutors said that Kwon is facing charges in South Korea.

Several industry executives have said recently that the notice against Kwon may set a wrong precedent for the industry and hurt innovation.

The criminalization of Terra is a dangerous precedent according to Haseeb Qureshi, Managing Partner of Dragonfly. Qureshi cautions that he doesn't know all the details.

South Korean prosecutors said earlier this month that the businessman was not cooperating and that he was on the run. A red notice for Kwon was requested by them.

The Terraform community approved of the revival of the project but avoided the so-called stable coin component. As a result of the depegging of TerraUSD, the firm's previous stable coin, the LUNA token crashed.

The wipeout of Three Arrows Capital was caused by the crash of the LUNA token. Blockfi had borrowed billions of dollars from the fund and it was impacted by the demise of the fund.

Many investors sold their positions in revived Luna token after South Korea issued an arrest warrant for the man. We have held ourselves to an extremely high bar of integrity and will be clarifying the truth over the next few months.