South Korean prosecutors have requested that the country’s foreign ministry revoke Do Kwon’s passport. They’ve also triggered the process for Interpol to issue a red notice for Kwon as media reports said on Monday. These developments revealed soon after Do Kown claiming in a tweet on Sunday that he was not on the run, rather, he claimed was cooperating with relevant authorities in several jurisdictions.

On Saturday, the Singapore police clarified that Do Kwon was no longer in the town but the law enforcement agency would cooperate with South Korean authorities on the issue. Last week, a Korean court issued an arrest warrant against Do Kwon. He reportedly told the prosecutors through his lawyers that he had no inclination to immediately respond to their summons.

Last week’s arrest warrant was announced Kwon and five others, including a founding member of Terra – Nicholas Platias, for not cooperating with the ongoing investigation of the Terra fiasco. Following the collapse of the $40-billion Terra-Luna ecosystem, 81 South Korean investors filed legal complaints against the company and its executives, accusing them of fraud.

The South Korean court compiled these complaints and arranged them into two court cases. The court said Do Kwon and others have apparently violated South Korea’s capital markets laws and must willfully participate and cooperate in the investigations, as reported by the media.

Prosecutors claimed that Do Kwon disbanded the South Korean Terraform Labs unit in April and moved to Singapore. In May, Do Kwon’s family members and the company’s key finance staff also flew to Singapore. Since the news of Do Kwon’s arrest warrant became public on 14th September 2022, LUNA has dropped by over 40% from $4.36 on 14th September to $2.50 on 19th September.

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