Since May, Do Kwon and Terra have been the crypto industry’s most popular topics. One of the major events in the cryptocurrency world was the tragic collapse of the billion-dollar business.
Millions were lost by investors during a difficult period. The same has a variety of effects on the market as a whole.
Recently, it was reported that South Korean authorities had secured a warrant for Do Kwon, indicating their plan to imprison the creator of Terra.
Rumors were out that Do Kwon was trying to run from the officials. He took to Twitter to address these rumors and assured that he and his team are fully compliant with the officials.
Do Kwon says he ain’t trying to hide
Do Kwon, a co-founder of Terraform Labs and the subject of South Korean allegations related to a $60 billion Bitcoin wipeout, refuted reports that he was hiding after Interpol issued a red alert for his arrest.
On Monday, Kwon tweeted that he was “making zero effort to hide,” adding that he “goes on walks and malls.” Interpol has asked law enforcement agencies worldwide to find and detain the missing 31-year-old cryptocurrency entrepreneur, according to prosecutors in Seoul.
Kwon and five other people have been charged with offenses, including breaking the legislation governing financial markets.
Kwon earlier this year relocated from South Korea to Singapore, where his now-defunct Terraform Labs enterprise had a presence. However, it is unknown where he is now after the city-state announced on September 17 that he had left. The search for him was thereafter intensified by the prosecution.
Kwon was active on social media while potentially facing arrest and punishment in South Korea. At the time of publishing, he listed Singapore as his location on Twitter, but a Reuters article on September 17 indicated he may no longer be there.
The co-founder of Terra is from South Korea. Although there are certain exceptions, dual citizenship is typically not accepted in South Korea. It is unknown if Kwon has passports from multiple nations.
The algorithmic stablecoin TerraUSD and its sibling cryptocurrency Luna was created by Terraform Labs. In May, both currencies crashed, causing significant losses in the cryptocurrency markets and escalating governmental monitoring of digital assets.