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Terra (LUNA) Founder Do Kwon Denies He’s on the Run After South Korean Authorities Issue Arrest Warrant

Terra (LUNA) founder Do Kwon has denied that he’s evading authorities regardless of statements from South Korean prosecutors claiming the opposite.

Bloomberg lately reported that warrants have been issued to Kwon and 5 others who have been charged with violations of South Korea’s capital markets regulation.

The embattled Terraform Labs founder tells his a million Twitter followers that he has no plans to cover from regulation enforcement companies.

“I’m not ‘on the run’ or something comparable – for any authorities company that has proven curiosity to speak, we’re in full cooperation and we don’t have something to cover. 

We’re within the strategy of defending ourselves in a number of jurisdictions – we’ve got held ourselves to a particularly excessive bar of integrity, and look ahead to clarifying the reality over the subsequent few months.”

Native media outlet Yonhap Information has reported that South Korean prosecutors say that Kwon is “clearly on the run.”

Whereas South Korean authorities initially alleged that Kwon and others have been in Singapore, a brand new report from Reuters says that the crypto entrepreneur is now not within the nation, leaving his whereabouts unknown at time of writing.

The Terra ecosystem collapsed in Could this 12 months when TerraUSD (UST), the venture’s stablecoin, misplaced its greenback peg and spiraled right down to primarily zero. The scenario brought on roughly $40 billion in damages to buyers.

Kwon has been accused by South Korean authorities of operating a “Ponzi fraud,” particularly with Terra-based decentralized finance platform Anchor Protocol, which provided buyers of UST returns of roughly 20%.

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