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South Korea intensifies efforts to extradite Terraform Labs CEO Do Kwon by seeking INTERPOL's cooperation after a Montenegrin court rejects U.S. extradition. (Read More)
According to a report, the recently arrested Terraform Labs co-founder Do Kwon was able to register a company in Serbia just a few weeks after Interpol issued a Red Notice for him. Lawyers that helped Kwon form a company in Serbia reportedly said they were not aware of Interpol’s Red Notice against their client. Do [...]
The post Report: Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice appeared first on Crypto Breaking News.
Despite the DoJ's crypto financial sanctions targeting Russia, local authorities helped their American colleagues. (Read More)
Even the SEC Commissioner has publicly rebuked her agency over the shutdown of Kraken’s crypto staking program.
South Korean authorities have previously requested cooperation from the Serbian government to bring Kwon back.
Interpol to create a new metaverse unit as it looks to combat online crime in grand style (Read More)
Interpol seems massive potential in Web3 and is getting ready to tackle crypto crime with a new approach.
Click here to read our crypto digest.
The Interpol Metaverse story: Will this pave the way for other official organizations to dip their toes into blockchain and cryptocurrencies?
Interpol’s metaverse is up and running and has been designed to streamline communication between various units, along with providing an avenue to conduct education and training.
In a new interview with Laura Shin, Do Kwon maintained that he has been cooperating with prosecutors (Read More)
Do Kwon told his more than one million Twitter followers that he had not seen his name on Interpol’s Red Notice list, but not all names are made available to the public.
Click here to read our crypto digest.
Terraform Labs founder Do Kwon is facing an international arrest warrant, days after South Korean prosecutors expressed concern that he was “on the run.”
On Monday, South Korea police revealed that they had sought help from Interpol to have the Terra boss arrested.
According to the details first published by Bloomberg, prosecutors said the international criminal police organisation had issued a Red Notice – a step that designates Kwon as a wanted individual and who now faces arrest in nearly 200 countries.
Do Kwon ‘on the run?’The Interpol notice comes a few days after Korean police said the Terraform Labs chief was a wanted man, which Invezz reported on 19 September.
As noted at the time, law enforcement in Seoul said they had established that Kwon was not in Singapore – where he has previously been reported to be – and that there was no cooperation with investigators into the multi-billion crypto meltdown of Terra (LUNA) and TerraUSD (UST).
Earlier, prosecutors had sought to have Do Kwon’s passport revoked in a bid to have him return to South Korea.
In early May this year, as the bear market gripped crypto, the algorithmic stablecoin UST lost its dollar peg and collapsed within days, with a spiral impact on LUNA token. (What happened to UST? Read more). But basically, over $60 billion worth of the Terra cryptocurrencies flushed down the drain as LUNA and UST holders globally lost their investments.
The impact across the market was also massive as the contagion spread, with LUNA going to zero catalysing the demise of crypto hedge fund Three Arrows Capital and in turn multiple crypto lending platforms. At the centre of the investigations that have followed is Kwon, reportedly now in hiding.
However, as highlighted in our 19 September news report, Kwon refuted the claims that he was on the run. He claimed via his Twitter account that he and other Terra executives were indeed looking forward to “clarifying the truth over the next few months.”
Interpol and the Financial Action Task Force (FATF) have a joint asset recovery initiative, which could apply in Do Kwon’s if he has assets that might be deemed criminal proceeds.
As of going to press, a search of wanted persons on the Interpol website did not return Do Kwon’s name.
The post Do Kwon a wanted man as Interpol issues ‘Red Notice’ appeared first on Invezz.
Terraform Labs co-founder has been issued with a red notice from Interpol, prosecutors in South Korea claim, according to a report from Bloomberg. (Read More)
The controversy surrounding Do Kwon’s whereabouts continues to grow, given that South Korean prosecutors asked Interpol to issue a red notice against the Terraform Labs’ founder. (Read More)
<p>The Turkish Ministry of Internal Affairs announced on Tuesday that 28-year-old Faruk Fatih Ozer, the Founder and CEO of the folded Turkish cryptocurrency exchange, Thodex, has been arrested in Albania. </p><p>The ministry said that Fatih was rounded up in Vlorë, a city in Southern Albania after he was found through his biometric identification.</p><p>Also, the government ministry noted that the process to extradite Fatih to Turkey was initiated by the International Police which previously issued a red notice on him.</p><p>Fatih fled Turkey in April last year after Thodex, one of the largest cryptocurrency exchanges in the country, was shut down by its founders, throwing investors into confusion and losses estimated to be about 356 million Turkish Lira ($24 million).</p><p>A February report by Chainalysis put the estimate at around $2.6 billion.</p><p>Last year, the Turkish police released footage of Fatih and have previously made several trips cross-country to capture Fatih. </p><p>At one point, the fugitive released a statement from an undisclosed location promising to repay investors and return to Turkey at a later date to face prosecution. </p><p>Finance Magnates reports that Turkish prosecutors <a href="https://www.financemagnates.com/cryptocurrency/turkey-seeks-jail-sentences-of-over-40000-years-for-thodex-founders/">are seeking jail sentences</a> of up to 40,564 years for 21 of the founders and executives of the defunct crypto-exchange.</p><p>They alleged that the defendants established a criminal organization, engaged in fraud through informatics systems and laundered proceeds from criminal activities.</p><p>In April 2021, the Turkish police <a href="https://www.financemagnates.com/cryptocurrency/news/authorities-detain-62-people-in-turkey-for-2-billion-crypto-exchange-fraud/" target="_blank">detained 62 people</a> as part of a large-scale investigation into the exit crypto scam. </p><p>Crypto Popularity in Turkey</p><p>Following the collapse of Thodex, the Central Bank of the Republic of Turkey <a href="https://www.financemagnates.com/cryptocurrency/news/turkey-to-impose-ban-on-cryptocurrency-payments/">announced a ban</a> of cryptocurrency payment, noting that cryptocurrency transactions carry significant risks.</p><p>Turkey has one of the highest number of cryptocurrency users in the world, sharing the top spot with countries such as Nigeria, Vietnam, the Philippines, Peru and Switzerland.</p><p>In December 2021, the local cryptocurrency exchange, Paribu <a href="https://www.paribu.com/blog/haberler/paribu-yeni-yila-5-milyon-kullaniciyla-giriyor/">celebrated</a> hitting 5 million users on its platform.</p><p>The increasing adoption of cryptocurrency in the transcontinental country is being driven by high levels of inflation with people trying to shield their savings from losses.</p><p>The total number of daily crypto trades in Turkey <a href="https://www.financemagnates.com/cryptocurrency/news/crypto-trading-gains-popularity-in-turkey-after-liras-crash/">topped one million</a> in December last year after the Turkish Lira dropped by more than 40% earlier in September.</p><p>There have been media reports of the Turkish presidency’s efforts to regulate cryptocurrency usage in the country through the introduction of a bill. However, none has been introduced yet.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
This isn’t the first time that legendary director David Lynch works with Interpol. In 2010, Lynch’s animated short film “I Touch a Red Button Man” used Interpol’s song “Lights” as a soundtrack. The next year, Interpol used that short film as visuals for their Coachella performance. And now, a decade later, they’re both revisiting the work and turning it into eight NFTs. Related Reading | Colors on Chain Announces Exciting Reward Game Based on NFT Colors HIFI Labs adapted the work to the NFT realm by dividing it into seven pieces, plus an extra one that’ll be mixed with user-generated content. Through this site, they’ll be available for auction in the Superrare Ethereum marketplace. The pieces are 1/1 editions. This is the first one. They all feature an updated version of the “Lights” song. Forbes describes it as follows. “The new renditions feature a stripped-down version of the song, both by design and as a result of the band’s members—Banks, Daniel Kessler and Sam Fogarino—being physically separated for much of the pandemic.” To paint a clearer picture, Banks said in an official statement by the band: ”The marriage of music and visual is an age-old tradition, and Lynch is a musician himself and has a love for music so it was a pretty organic way for artists from two separate media to come together. From our standpoint, we are all crazy about Lynch so it was amazing that our work was paired with his.” It appears that Interpol is the force behind Lynch’s new and improved adventures in the NFT space. However, David Lynch tweeted about it. So, he’s aware and supports the project. Dear Twitter Friends, good morning. A film I made for @interpol will be auctioned in 7 pieces on @superrareFind them at https://t.co/m31joB4XHS — David Lynch (@DAVID_LYNCH) October 26, 2021 David Lynch’s “I Touch A Red Button Man” This is the “I Touch a Red Button Man” short film in all its glory: At the time of the original collaboration, Banks told the Huffington Post: “It’s important to clarify that Mr. Lynch did not make a music video for our song. He made an animation of his character, and allowed us to show it. If you missed us at Coachella, then we’re proud to share this with you now. The Red Button Man… doing his thing.” ETH price chart for 10/27/2021 on Gemini | Source: ETH/USD on TradingView.com Particularities About The “I Touch A Red Button Man” NFT Collection First of all, the artists want you to know that “This is a carbon neutral collaboration thanks to our partnership with Aerial.” The mania about the supposed environmental cost of NFTs is rampant online, so they went with a company that verifies carbon offsets. What more could fans want? Well, maybe to be a part of the collection. About this, Forbes informs: “ In the spirit of fandom and collaboration, fans will be able to add light personal creative touches to one of the eight pieces in the 3D gallery, and one collaborator will be chosen to receive the collaborative NFT for free.” Related Reading | 17% Of Ethereum Addresses Hold Majority Of NFTs We’re thrilled to announce this special project with legendary film director, @DAVID_LYNCH Visit https://t.co/nUQihNK3vF and @SuperRare to experience these new pieces of art, music, and film #lynchxinterpol pic.twitter.com/5n4YeohpMZ — Interpol (@Interpol) October 26, 2021 Go to the website, choose UGC TV8, and use the very rudimentary tools they provide to be a part of history. UGC stands for User Generated Content and you could be that user. Just be sure to leave your mark and your email before November 7th. There’s still time to collaborate with both David Lynch and Interpol. Featured Image: Screenshot from David Lynch's short film | Charts by TradingView
The agencies have worked together for years, but now their joint efforts are official as they plan to ramp up activity.
ASIC sues Binance Australia for misclassification of clients. Interpol targets Hexs founder with a Red Notice. Tornado Cash updates emerge.
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