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South Korea requests Interpol's help in Terraform Labs probe

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SEOUL: South Korean prosecutors have asked Interpol to issue a fugitive alert for the founder of Terraform Labs as they investigate a US$40 billion crash of the firm’s cryptocurrency that devastated retail investors around the world.The Seoul Southern District Prosecutors’ Office asked Interpol on Monday (Sep 19) to circulate the “red notice” for Do Kwon across the agency’s 195 member nations to find and apprehend him.A South Korean court recently issued arrest warrants for Kwon and five other people connected to Terraform Labs as prosecutors investigate allegations of fraud and financial crimes in relation to the implosion of its digital currencies in May.

South Korea’s Foreign Ministry said Tuesday that it’s processing the prosecutors’ request to restrict or revoke the passports of Kwon and four other suspects who are South Korean.Interpol had not publicised the red notice for Kwon on its website as of Tuesday morning, and South Korean prosecutors say the designation may take more than a week.

Interpol describes such notices as requests to law enforcement worldwide to locate and provisionally arrest fugitives “pending extradition, surrender, or similar legal action".Kwon's whereabouts are unknown.South Korean authorities initially believed Kwon was in Singapore before the country's police announced last week that he wasn’t there.

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