Do Kwon Returns to Twitter Despite Interpol Red Notice, LUNC Rally Halts

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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October 23, 2023 08:45 EDT

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Do Kwon, the co-founder of Terraform Labs and the Terra network has returned to Twitter, despite the fact that prosecutors in South Korea are now freezing his bitcoin (BTC) and cryptoassets – as TerraLunaClassic (LUNC) prices continue to take holders on a bumpy ride.

Yesterday, the Seoul Southern District Prosecutor’s Office’s Financial and Securities Crime Unit confirmed that Interpol had issued a Red Notice. The notice is a high-level request for global police officers to “locate and provisionally arrest” Kwon “pending extradition, surrender, or similar legal action.”

YTN reported that five other Terraform executives, including the firm’s chief financial officer, have also been added to the Interpol Red Notice list.

But the defiant Kwon seemed unfazed by the development and told his Twitter followers that he was “not hiding” and regularly “walks around malls” – although he stopped shy of revealing his exact whereabouts.

Yeah as i said im making zero effort to hide

I go on walks and malls, no way none of CT hasnt run into me the past couple weeks

— Do Kwon 🌕 (@stablekwon) September 26, 2022

He even appeared to poke fun at his accusers, writing that “for something that has notice in the name,” Interpol “sure gives no notice.” Indeed, a search for Kwon’s name on Interpol’s database turns up with no results at the time of writing.

Kwon seemed in a jovial mood and shared jokes with a number of followers.

I stand corrected

— Do Kwon 🌕 (@stablekwon) September 26, 2022

But things appear to be hotting up for the CEO in his native South Korea.

The aforementioned media outlet explained that prosecutors are “in the process of freezing” tokens that are “believed to be owned by Kwon.” These coins are reportedly held on an unnamed “overseas” crypto exchange that is now “cooperating” with the Seoul Southern District Prosecutors’ Office, YTN explained.

Where Is Do Kwon?

The office approached Interpol for assistance last week after issuing its own arrest warrant for Kwon and the five other executives earlier this month. The South Korean foreign ministry is attempting to cancel Kwon’s passport.

The prosecutors say Kwon “fled” to Singapore in April, although police there have stated that Kwon is no longer in Singapore. They have also claimed that “it is obvious” that Kwon is now “on the run.”

Prosecutors want to charge Kwon and his fellow executives with selling “unregistered securities” and violating the Capital Market Act.

But the flurry of activity appears to have sparked volatility in the LUNC market. After rising steadily throughout the early hours of the (UTC) day, the coin has dropped in value sharply in the past 30-40 minutes.