09-18-2022 icon

Terra’s Do Kwon Says he’s not ‘on the run’

By Lucy Adegbe

Do Kwon, the co-founder of Terra has said he is not ‘on the run.’ This comes after South Korean prosecutors issued an arrest warrant for Kwon, the brain behind the Terra ecosystem which crashed in May.

While the authorities had asked the finance ministry to nullify his passport, they also believed Kwon was in Singapore. However, the Singaporean police said he wasn’t there.

Reacting on Saturday afternoon, Kwon tweeted, “I am not on the run or anything similar for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide. We are in the process of defending ourselves in multiple jurisdictions- we held ourselves to an extremely high bar of integrity and look forward to clarifying the truth over the next few months.”

Kwon further told Crypto Twitter that they have no business knowing his GPS co-ordinate.

Kwon has been charged with violating capital market laws in South Korea and also faces several legal challenges.

It would be recalled that the crash of the Terra ecosystem-comprising LUNA and UST- had a negative effect on the market, resulting in a Crypto winter.