Earlier this week, South Korean prosecutors issued an arrest warrant For Do Kwon, the infamous co-founder of the Terra ecosystem that spectacularly collapsed in May; They also asked the Ministry of Finance to revoke his passport. The authorities are looking for Kwon Thought he was in SingaporeBut on Saturday Singapore police said Kwon is not there.
Now Do Kwon is on Twitter.
On Saturday afternoon, Kwon tweeted, “I’m not a ‘runaway’ or anything similar – for any government agency that has expressed an interest in reaching out, we are in full cooperation and have nothing to hide. We are in the process of defending ourselves in multiple jurisdictions – we’ve put We hold ourselves to a very high level of integrity, and we look forward to clarifying the truth over the next few months.”
Kwon started the same thread of tweets by telling Crypto Twitter: “You have no business figuring out my GPS coordinates.”
Kwon is accused of violating capital markets rules in South Korea, and also faces legal challenges in multiple jurisdictions.
The Collapse of the Terra ecosystem (both LUNA and the algorithmic stablecoin UST) caused a massive cryptocurrency selloff, sending bitcoin and other cryptocurrencies down. Four months later, the market is still stuck in crypto cold winter.
Terra’s collapse also led to the notable collapse of cryptocurrency lenders Celsius And the Voyageras well as a hedge fund Three equity sharesimpose more scrutiny on investing in cryptocurrencies and stablecoins from regulators; The Securities and Exchange Commission is It is reported that the investigation Whether Kwon’s Terraform Labs violated federal investor protection rules the way it markets floor tanks.
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