Terra debacle: Interpol issues red notice on Do Kwon
It might seem we’ve not heard the last from the Do Kwon Terra debacle, as Interpol has issued a red notice for the arrest of the embattled founder of Terraform labs.
The South Korean security authority has been investigating the case; however, the embattled Terra founder has not been cooperating and is believed to be on the run.
With Interpol's red notice, security agencies worldwide are requested to start a search and arrest him.
Do Kwon's statement on the Terra collapse investigation
Do Kwon, in a series of tweets via his official Twitter handle (@stablekwon), has denied not cooperating with the security agencies. He further claimed he’s not on the run as speculated in the media.
Do Kwon's Terra labs collapsed earlier this year, which led to the loss of investors' money estimated to be around $40 billion.
Many investors have lost their money through investment in LUNA and can’t wait to get clarity on the investigation presently being carried out. This case is one that the whole crypto community is observing with keen interest.
Legal Issues in the cryptocurrency industry
There seem to be a lot of legal issues in the cryptocurrency industry, and Do Kwon Terra issues is not the only one taking centre stage.
Ripple labs, the parent company of Ripple, is presently embroiled in legal issues with SEC in what seems to be the longest court case in the cryptocurrency industry's history.
A Dogecoin investor also sued Tesla and SpaceX CEO Elon Musk for $258 billion (€245 billion) for allegedly "running a pyramid scheme to support the cryptocurrency".
In an accusation filed in Manhattan federal court, plaintiff Keith Johnson accused Musk, the electric vehicle maker and the space tourism company CEO of racketeering by touting Dogecoin and driving its price up, only to let it tumble.
Key Tech figures like Warren Buffet and Bill gates have earlier questioned the worth of Bitcoin. The major criticism of Bill Gates is the anonymity and irreversibility of transactions, while Buffet doesn’t see it as a means of utility.
Author: Boboye Adeyemi
Adeyemi is a content writer/marketer with a year of experience writing quality content for various clients & brands in the cryptocurrency, blockchain, and technology industries. Adeyemi has experience in social media management/marketing, email marketing & SEO services.