The founder of the collapsed crypto Terra LUNA/USD and terraUSD, Do kwon Singapore police on Sunday denied he was on the run said he was no longer in the country.
South Korean authorities last week problematic an arrest warrant for Kwon and five others following the collapse of its blockchain platform, Terraform Labs.
Singapore Police said they will assist South Korean police within the framework of their national legislation and their international obligations.
In response to the allegations, Kwon tweeted that he had nothing to hide and was in “full cooperation” with government agencies.
I’m not “on the run” or anything – for any government agency that has shown an interest in communicating, we are fully cooperating and have nothing to hide
— Do Kwon (@stablekwon) 09/17/2022
He also mentioned that Terra Firma officials are in the process of defending themselves in multiple jurisdictions.
We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high standard of integrity and look forward to clarifying the truth over the coming months
— Do Kwon (@stablekwon) 09/17/2022
Also read: Terra’s Do Kwon ‘heartbroken’ over UST collapse, Doge’s Billy Markus urges him to leave the industry
According to the Singapore police, the South Korean prosecutor’s office has applied to the Singapore Ministry of Foreign Affairs to have Kwon’s passport revoked. If the ministry agrees, Kwon must return to Seoul within 14 days.
Kwon is the lead developer of the two cryptocurrencies whose spectacular collapse rocked crypto markets worldwide.
The warrant came amid public outrage in South Korea over the collapse. According to blockchain analytics firm Elliptic, investors in the two coins lost an estimated $42 billion globally.
In June, employees of TerraForm Labs (TFL). said that $80 million in company funds were sent to “secret wallets” each month prior to LUNA…
