Terra’s Do Kwon seems to be in a wave of trouble. Forkast verified with South Korean prosecutors that Kwon Do-Hyung, the co-founder and CEO of Terraform Labs Pte Ltd., also known as Do Kwon, departed Singapore last month and arrived in Dubai, United Arab Emirates.
Given that there are no records of Kwon entering the UAE through the airport, an investigation team is assessing the probability that Kwon had a layover in Dubai. Local law enforcement agencies have asked neighboring nations to assist in locating Kwon.
Terra Do Kwon’s whereabouts were a secret
Since the Terra-LUNA accident in May, Kwon’s precise location has remained a mystery. Many people theorized that he was in Singapore because that city-state was Kwon’s last known location.
“It’s not in the interest of being on the run. It’s just that every time the location where I live becomes known, it becomes almost impossible for me to live there.”
Kwon said during a recent interview
Following the collapse of the Terra stablecoin and cryptocurrency, which destroyed more than US$60 billion in market value, South Korea is looking into Kwon and Terraform Labs colleagues on a number of counts, including fraud and violating the Capital Markets Act.
The investigation’s lead office, the Seoul Southern District Prosecutors’ Office, has filed an arrest order, is working to invalidate Kwon’s passport, and has asked Interpol to put a “red notice” on him.
A red notice requests that international law enforcement find and temporarily detain a person.
Author and cryptocurrency journalist Laura Shin discussed the entire Do Kwon affair on Twitter. Shin voiced her worry and displeasure with the retail investors who were looking for Do Kwon’s secret location.
She also agreed with Kwon’s choice to keep his location a secret. Shin also discussed the claims that Kwon was engaging in fraud.
A Terra whistleblower named Fatman, who is most known for sharing his unbiased feedback on many projects, has something to say. He shared his Twitter thread with Shin, highlighting the significant turning points in Terra’s conspiracy journey.
Do Kown asserted yesterday that Luna Foundation Gaurd (LFG) had contracted with an on-chain analysis business to release a report. Do Kwon said the impending study will shed light on all LFG trade to demonstrate there had been no money misappropriation or theft.