Skip to content Skip to sidebar Skip to footer

The co-founder of Terra Do Kwon in October 2019. (Source: Screenshot, YouTube/Terra)

Do Kwon, founder of the now-defunct blockchain company Terraform Labs, broke his silence on the recent warrant for his arrest, saying he was not on the run.

A South Korean court issued an arrest warrant for Do Kwon last Wednesday, reports suggest. In addition to Do Kwon, the warrant allows for the arrest of five other individuals affiliated with Terra. According to the court, Do Kwon and his partners violated the provisions of South Korea’s capital market law.

While several followers, especially the entirety of Crypto Twitter, believe that Kwon is now evading authorities, the Terra boss has come forward to dispel those beliefs. “I’m not ‘on the run’ or anything like that”, Kwon said in a tweet on Saturday, three days after reports of the arrest warrant surfaced.

Speaking further, Kwon noted that he and his team are ready to chat with relevant authorities seeking communication. According to him, they are willing to cooperate with the demands of the authorities because they “I have nothing to hide.”

“We are 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 coming months,” Kwon added, suggesting a tendency to submit to any form of litigation.

Nonetheless, when it comes to his whereabouts, the Terra boss has remained mum on the matter, citing privacy concerns. He noted that his whereabouts will only be revealed to people who are his friends, whom he intends to meet, or who he plays a GPS-based Web3 game with.

Singapore authorities want to work with South Korea, but Kwon may no longer be in the country

The warrant was the first-ever official authorization for the arrest of the Terra boss since the Terra debacle that resulted in investor losses to the tune of tens of billions of dollars.

Let us recall that, last month, during its very first official ceremony interview after Terra crashed, Do Kwon remarked that he was cooperating with the authorities. Also, Kwon mentioned that he had moved to Singapore, but would not disclose his exact whereabouts.

A day after the warrant was made public, reports surfaced suggesting that South Korean authorities were seeking to revoke Kwon’s passport. According to local media, Dan Seong-han, director of the Seoul Southern District Prosecutor’s Office filed a request with the South Korean Foreign Ministry, seeking the revocation of Kwon’s license, among five others.

If Kwon’s passport were revoked, the 31-year-old developer would have “illegal alien” status in Singapore if he has no other passport. Additionally, despite the lack of extradition treaty terms with South Korea, Singaporean authorities have shown interest in assisting South Korea with the case against Kwon.

However, it seems that Kwon is no longer in Singapore. Singapore police said Saturday the CEO of Terra was out of the country.

Source link

Leave a comment