Crypto And INTERPOL – Can INTERPOL Issue A Red Notice In Relation To Allegations Involving Crypto?

Crypto and INTERPOL – can INTERPOL issue a Red Notice in relation to allegations involving crypto?

It has recently been widely reported that South Korea have asked INTERPOL to issue a Red Notice for developer Do Kwon who is the founder of the failed crypto currency Terra. An INTERPOL Red Notice can be used to prevent an individual from fleeing prior to an extradition request being issued.

It is further reported that the reason for this request is that Do Kwon has refused to cooperate with an investigation into the collapse of Terraform Labs which is the company behind the failed cryptocurrency Terra. According to a 19 September 2022 article by the Guardian, "Kwon's attempts to build an "algorithmic stablecoin" that would retain its value at exactly $1 without any reserves underpinning it failed catastrophically in spring 2022, wiping out more that $80bn (£70bn) of value as the tokens were sold by panicky holders."