Crypto fugitive Do Kwon said to be hiding in Europe, mocks ‘cops from world over’ in series of tweets

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The chief exec­u­tive offi­cer of Ter­raform Labs Pte. Kwon Do-hyung, or Do Kwon, said with more than a hint of sar­casm on his ver­i­fied Twit­ter han­dle that he will reveal his where­abouts soon.

South Kore­an pros­e­cu­tors have issued an arrest war­rant for Kwon and five oth­er Ter­ra asso­ciates in rela­tion to the col­lapse of the Ter­ra sta­ble­coin this year. Inter­pol has issued a red notice for all six, which asks glob­al law agen­cies to locate and pro­vi­sion­al­ly arrest them.

“Alright I’ll throw a meetup/conference soon to get over this in hid­ing bs … Cops from world over wel­come to attend” Kwon wrote on Twit­ter ear­ly morn­ing on Fri­day, Asia time. 

In a fol­lowup tweet, Kwon left what appears to be a com­ment for South Kore­an pros­e­cu­tors: “For those of you that have been spread­ing false­hood on the tax­pay­ers dime, you are invit­ed with VIP hon­ors – will even pay for your plane tick­et … Show up if you dare.”

Kwon post­ed the tweet not long after South Kore­an media reports, cit­ing local pros­e­cu­tors, said the Ter­ra chief had moved from Sin­ga­pore to a coun­try in Europe. Nicholas Pla­tias, the for­mer Ter­ra Head of Research who is also under inves­ti­ga­tion by South Kore­an author­i­ties, has returned to his native Greece, accord­ing to the reports.

See relat­ed arti­cle: Cryp­to lead­ers dif­fer over Do Kwon blame in May’s mar­ket crash

Choi Sung-kook, pros­e­cu­tor at South Korea’s Seoul South­ern Dis­trict Pros­e­cu­tors’ Office, con­firmed with Forkast that what has been report­ed is “not false.” He declined to dis­close which coun­try in Europe the pros­e­cu­tors believe Kwon is resid­ing in.

South Kore­an pros­e­cu­tors last month said that Kwon had left Sin­ga­pore in Sep­tem­ber and flew to a third coun­try via Dubai.

Manipulation?

Addi­tion­al­ly, Choi con­firmed pros­e­cu­tors have obtained pri­vate mes­sages of Do Kwon alleged­ly telling a Ter­raform Labs employ­ee to manip­u­late the mar­ket price of the Ter­ra sta­ble­coin and the asso­ci­at­ed Luna cryp­tocur­ren­cy, now Luna Clas­sic. This was first report­ed by local media in South Korea.

South Korea’s charges against Kwon include fraud and vio­la­tion of the Cap­i­tal Mar­kets Act in rela­tion to the col­lapse in May of the Ter­ra sta­ble­coin, which at its peak had a mar­ket cap­i­tal­iza­tion of US$60 bil­lion, caus­ing loss­es for hun­dreds of thou­sands of investors.

Kwon and Ter­raform Labs have not respond­ed to Forkast’s request for com­ment on the alle­ga­tions as of Fri­day morning.

See relat­ed arti­cle: Ter­ra CEO Do Kwon, want­ed in South Korea, left Sin­ga­pore and flew to parts unknown via Dubai

Do Kwon and Ter­raform Labs are also the sub­ject of a class action law­suit in Sin­ga­pore, filed on behalf of 359 multi­na­tion­al investors who claim loss­es of US$57 mil­lion in the col­lapse of Terra. 

Accord­ing to the offi­cial judi­cia­ry web­site of Sin­ga­pore, a fol­low-up hear­ing for the law­suit was sched­uled to occur on Wednes­day, but the notice has since been removed and no update is available.

Drew & Napi­er LLC, the Sin­ga­pore law firm in charge of the case, did not respond­ed to Forkast’s inquiry on the sta­tus of the lawsuit.



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