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The passport of Do Kwon, co-founder of scandal-tainted stablecoin developer Terraform Labs, will be invalidated as of Oct. 19, which Korean prosecutors believe will help uncover his whereabouts. Under the order, he will be forced to be deported to his home country as an unauthorized immigrant. Even if Kwon argued that he is not “on the run,” the founder of the Terra stablecoin and its sister token, Luna, has not disclosed where he is staying, leaving only some sarcastic comments about the ongoing investigation targeting him.

Do Kwon, the wanted Korean founder of the failed cryptocurrency Terra, denied Sunday he was on the run after the Singapore police said he was not in the city-state as had been beli...

Young founder of Luna emerges as cryptocurrency tycoon