South Korean authorities have announced that Interpol has issued an arrest warrant for the co-founder of Terraform Labs, Do Kwon, as he faces charges related to the erasure of $60 billion in cryptocurrencies he created.
According to Arab Net, Seoul prosecutors said in a text message that the Interpol has issued a red notice for Kwon's arrest, opening a new chapter in the massive cryptocurrency meltdown that wiped out $2 trillion in digital assets.
South Korean officials accused Kwon and five others of crimes including violating the Capital Markets Act.
Kwon moved earlier this year from South Korea to Singapore, where his Terraform Labs headquarters are located, but his location became unclear after Singapore said on September 17 that he was no longer there.
Prosecutors then intensified their efforts to find him.
Kwon, for his part, denied that he was in hiding, tweeting on Monday that he makes no effort to hide, adding that I go for walks and shopping malls.
Terraform Labs was behind the algorithmic stablecoin TerraUSD and its sister token, Luna.
Both currencies exploded in May, causing huge losses in the cryptocurrency markets and intensifying regulatory scrutiny of digital assets.
Digital assets have yet to recover, and regulators worldwide are flocking to the ruins to figure out how to avoid a repeat of such a catastrophe.
