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Do Kwon, the co-founder of stablecoin TerraUSD, is a wanted man in South Korea. As a result, the world’s largest cryptocurrency Exchange warns users that it is not responsible for their choice to invest in the Do Kwon token.

Last week, a South Korean court issued a arrest warrant for Do Kwon, whose company created the algorithmic stablecoin, TerraUSD, as well as its sister cryptocurrency, Luna. The failure of the TerraUSD stablecoin created the domino effect that is responsible for this summer’s big crypto crash. Prosecutors say Do Kwon is wanted for allegedly violate capital markets law.

However, since this warrant was issued, Do Kwon has not been found. It was originally believed that Do Kown was in Singapore, but Singapore police said Reuters last weekend that the co-founder of TerraUSD was no longer in the city-state.

On Saturday, Do Kwon posted a series of tweets to attempt to resolve issues with its current location. Although he refused to share even general details about his location, Do Kwon claimed he was not trying to evade arrest.

“I’m not ‘on the run’ or anything like that – for any government agency that has expressed an interest in communicating, we are in full cooperation and have nothing to hide,” he said. in a Tweeter.

South Korean prosecutors disputed those claims the next day, saying Do Kwon was “obviously on the run”. According to Yonhap News Agencyprosecutors claimed Do Kwon flew to Singapore in late April and shut down his company’s South Korean subsidiary, Terraform Labs, in an attempt “to evade investigation”.

And things keep getting worse for Do Kwon. Monday, the FinancialTimes reported that South Korea had asked Interpol to issue a “red notice” for Do Kwon, which would alert law enforcement around the world to the warrant.

As Do Kwon’s original stablecoin went up in smoke earlier this year, the crypto founder tried to bounce back in revive cryptocurrency through a new token known as Terra 2.0. It was quickly listed on major crypto exchanges where users can still trade the token as of the publication of this article. The warrant issued in South Korea against its founder does not seem to have had an effect on the exchanges, as pointed out by journalist Jacob Silverman on Twitter.

However, the world’s largest crypto exchange, Binance, took action… but not by deleting the token. Instead, when users land on the Binance webpage to trade Terra 2.0, a prompt appears on screen.

“Please note: A South Korean court has issued an arrest warrant for the co-founder of Terra 2.0 (LUNA),” the message read. “Please understand the risks involved and trade with caution. Binance will not be held responsible for any trading losses.”

Users must then click an “I understand” button.

At press time, Terra is trading at $2.60, down about 40% from the date before prosecutors issued the arrest warrant for Do Kwon last week.





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