Where in the World is Kwon? Terra CEO Says ‘I’m Not On The Run’

Please fol­low and like us:
Pin Share

  • South Kore­an pros­e­cu­tors have issued arrest war­rants for mul­ti­ple Ter­raform insid­ers includ­ing CEO Do Kwon
  • They were believed to be in Sin­ga­pore, but police have said Kwon is cur­rent­ly not in the city-state 

Do Kwon, rumored to have been liv­ing in Sin­ga­pore since his cryp­to project Ter­ra col­lapsed, now claims he isn’t evad­ing author­i­ties and wants to clar­i­fy “the truth” about what happened.

In a series of tweets on Sat­ur­day, the Ter­ra and Luna founder said he’s open to pro­vid­ing details about his loca­tion to cer­tain peo­ple and fur­ther shed light on what he’s been up to.

South Kore­an pros­e­cu­tors said on Sun­day that Kwon was “obvi­ous­ly on the run” and isn’t coop­er­at­ing, accord­ing to Yon­hap News. They said Kwon flew to Sin­ga­pore in April to evade inves­ti­ga­tion and dis­solved the firm’s Kore­an-based Ter­ra branch.

“I am not ‘on the run’ or any­thing sim­i­lar,” Kwon wrote. “For any gov­ern­ment agency that has shown inter­est to com­mu­ni­cate, we are in full coop­er­a­tion and we don’t have any­thing to hide.”

“We are in the process of defend­ing our­selves in mul­ti­ple juris­dic­tions — we have held our­selves to an extreme­ly high bar of integri­ty, and look for­ward to clar­i­fy­ing the truth over the next few months.” He closed his tweet thread with “Cheers!” and an emo­ji of two wine glass­es clinking.

Last week, a court issued the Seoul South­ern Dis­trict Prosecutor’s Office six arrest war­rants for for­mer employ­ees work­ing at the start­up, includ­ing Do Kwon and finan­cial offi­cer Han Mo, over alleged breach­es of secu­ri­ties and cap­i­tal mar­kets law.

Their infor­ma­tion was also sent to Inter­pol mem­ber states via a Red Notice, enabling their arrest in mul­ti­ple juris­dic­tions. Exact loss­es felt by Ter­ra investors are dif­fi­cult to cal­cu­late, but ter­raUSD and its sis­ter token luna were togeth­er worth more than $41 bil­lion just before they imploded.

Accord­ing to South Kore­an reports, all want­ed indi­vid­u­als were resid­ing in Sin­ga­pore at the time the arrest war­rants were issued. But Sin­ga­pore police told Reuters on Sat­ur­day that Kwon is cur­rent­ly not there. They added they would help South Kore­an pros­e­cu­tors with­in their autho­rized scope and inter­na­tion­al oblig­a­tions, but didn’t clar­i­fy the where­abouts of the others.

It would be dif­fi­cult for Kwon to trav­el from wher­ev­er he may be at the moment as pros­e­cu­tors are also in the process of inval­i­dat­ing his pass­port. Still, that process may be delayed as South Kore­an author­i­ties were coor­di­nat­ing with Sin­ga­pore for the return of five pass­ports belong­ing to Ter­raform affiliates. 

Kwon joked in a tweet that he hadn’t been run­ning for some­time now and should pos­si­bly start. “Tbh [to be hon­est, I haven’t] gone run­ning in a while, need to cut some calories.”

So, at this stage, Kwon’s where­abouts remain a mystery.


Get the day’s top cryp­to news and insights deliv­ered to your inbox every evening. Sub­scribe to Block­works’ free newslet­ter now.


  • Shali­ni Nagarajan

    Block­works

    Reporter

    Shali­ni is a cryp­to reporter from Ban­ga­lore, India who cov­ers devel­op­ments in the mar­ket, reg­u­la­tion, mar­ket struc­ture, and advice from insti­tu­tion­al experts. Pri­or to Block­works, she worked as a mar­kets reporter at Insid­er and a cor­re­spon­dent at Reuters News. She holds some bit­coin and ether. Reach her at [email pro­tect­ed]



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *