South Korea says that Interpol has acted on its request to add the Terra founder to its Red Notice list as the walls continue to close in on the fugitive.
South Korean authorities issued an Interpol red notice against Kwon last week concerning the failed DeFi project, claiming he had fled to Singapore.
Prosecutors in South Korea filed a request with the Foreign Ministry to invalidate the passport of Kwon and four others behind the collapsed LUNA and UST.
The warrant from the Supreme Prosecutors Office was issued for five others who worked at Terra, with South Korean authorities accusing them of violating the Capital Markets Act.
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The move is to ensure Terraform employees are available for the ongoing investigation of the crash of the blockchain's LUNA and UST tokens.
Five of the country's top exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, have agreed to form a joint council to work on investor protection rules autonomously.
Do Kwon and his company, Terraform Labs, must comply with subpoenas served by the U.S. securities regulator in their investigation into whether Kwon and Terraform violated federal securities laws.
As authorities in South Korea investigate Do Kwon and Terraform Labs due to the LUNA/UST implosion, major exchanges like Kraken, FTX, and Binance listed LUNA2 without a second thought.
Apart from issuing a subpoena, prosecutors also secured a statement from an employee who stated that some staffs were against the launch of TerraUSD (UST) as even the pilot model failed.
The legal team members include General Counsel Marc Goldich, Chief Corporate Counsel Lawrence Florio, and Chief Litigation and Regulatory Counsel Noah Axler.