May 23, 2024

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Do Kwon says he's not hiding amid chasing after floor cabinets, and Luna collapses

Do Kwon says he’s not hiding amid chasing after floor cabinets, and Luna collapses

Do Kwon, co-founder and CEO of Terraform Labs, insists he is not a fugitive from South Korean authorities. Meanwhile, South Korean prosecutors claim that Interpol issued a “red notice” for Kwon’s arrest. Terraform Labs, the company Kwon founded, is behind the collapsed cryptocurrency terraUSD and Luna, which were worth a combined $60 billion before their collapse.

Wuhe Chu | Bloomberg | Getty Images

South Korea has been seeking to arrest Kwon since earlier this month. But the country’s prosecutors claimed Kwon was a fugitive. On Tuesday, a spokesperson for the Seoul Southern District Prosecutor’s Office in the South Korean capital told CNBC that global law enforcement agency Interpol had issued a “red notice” to Kwon.

Red notices are issued to fugitives wanted either to stand trial or to serve a sentence, according to Interpol. The notice is a request for law enforcement around the world to locate and arrest the person concerned. This can then lead to extradition.

However, Kwon said he was not on the run, using his Twitter account to respond to authorities.

Kwon tweeted in response to someone asking for his whereabouts: “I’m writing code in my living room.”

Kwon insisted that he makes no effort to hide, saying he goes on walks and shopping malls.

Kwon also said he did not see his name on Interpol’s “red notice” list. The Agency does not always make these notices public.

A CNBC spokesperson said the South Seoul District Prosecutor’s Office is of the opinion that Kwon is still on the run.

Kwon on Twitter says he is in Singapore. But earlier this month, Singapore police said Kwon was not in the city-state.

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South Korean prosecutors said the purpose of the red notice was to locate Kwon and return him to South Korea, and then officials would decide within 48 hours whether to issue an arrest warrant for him.

CNBC’s Jihye Lee contributed to this article.