Against Terra's founder, Do Kwon, after Singaporean authorities confirmed he had left the country.
Previously, the Prosecutor's Office rejected Do Kwon's defence and asserted that he is "clearly on the run" and refuses to help with the investigations.
The prosecution requests Interpol to issue a red notice on Do Kwon
As reported by the Financial Times on September 19, the Seoul Southern District Prosecutor's Office has initiated the process to place Do Kwon on the Interpol red notice list and cancel his passport. If the application is accepted, the police in 195 nations around the world will be notified.
Do Kwon is no longer present in Singapore, as confirmed by the Singaporean police. Do Kwon, the creator of Terra, stated that he is not on the run and will cooperate with law enforcement.
Prosecutors have denied his defence and asserted that he is "clearly on the run," citing sufficient evidence to support their assertion. Do Kwon had also retained attorneys to stress that he had no intention of appearing before prosecutors for questioning.
Do Kwon and five others were issued arrest warrants by a South Korean court at the request of the Seoul Southern District Prosecutor's Office for violating the Capital Market Act. Currently, prosecutors are attempting to discover Do Kwon's location.
According to Interpol's website, a red notice is a request to law enforcement in 195 countries to "find and provisionally arrest a person pending extradition, surrender, or comparable legal action." Fugitive individuals who are wanted for prosecution or to serve a sentence are issued red notices.
Do Kwon, according to the prosecution, has been on the run since the Terra-LUNA incident in May and has dismantled TerraForm Labs in South Korea. Executives from Terra, including Do Kwon, fled to Singapore and refused to assist investigators.
Price Influence on Terra Classic (LUNC) and Terra (LUNA)
In a week, Terra Classic (LUNC) and Terra (LUNA) prices fell by 33% and 50%, respectively, due to South Korea's escalating action against Do Kwon.
At the time of writing, the Terra Classic (LUNC) price is $0.000270, a decrease of 11% over the last twenty-four hours. The pricing has returned as a result of the community's support for the Terra Classic. The price of LUNC is now 5% lower.
