Korean Prosecutors Ask Interpol to Issue Red Notice for Do Kwon

Sept 19,2022
KingData News: According to the Financial Times, Korean prosecutors asked Interpol to issue a red notice for Do Kwon and said Do Kwon refused to cooperate with the investigation into the collapse with UST, LUNA. The Seoul South District Prosecutor's Office said it has asked the Ministry of Foreign Affairs to cancel Do Kwon's Korean passport and has begun the process of placing him on the Interpol Red Notice and revoking his passport.
This indicator provides follow-up on the depg of Terra's stablecoin UST on May 8th. Terra's stablecoin UST briefly lost its peg to the U.S. dollar on May 8th, dipping as low as $0.985. The depeg event came after a series of multi-million dollar UST selloffs as one account traded about $85 million worth of UST for USDC on Curve Finance, while another user reportedly sold $108 million worth on Binance. UST posted a slight recovery shortly after Terraform Labs CEO Do Kwon posted a tweet calling out the stablecoin's critics.