Terra Founder Do Kwon Might Be On A Run: Report

A Bloomberg report citing South Korean prosecutors assert that Do Kwon might be evading the investigation launched against him  The Terra founder is not in Singapore as presumed earlier, raising questions on whether Do Kwon is allegedly on a run to evade legal probes initiated against him.  South Korean prosecutors are not able to track the location of the Terraform labs founder Do Kwon after an arrest warrant was issued against him concerning the Luna crypto crash of May 2022.

Timeline of Terra-luna-v2

South Korean prosecutors' team claims Terra's founder Do Kwon is “obviously on the run” as he tweeted “I am not on the run or anything similar”. South Korea's court issued arrest warrants against Do Kwon and five others for violating the Capital Market Act and requested extradition from Singapore.

Terraform Labs founder Do Kwon is not in Singapore, local police say. Accused of fraud after the collapse of cryptocurrencies luna and terrausd, he is wanted in South Korea after a court issued an arrest warrant for him. However, Kwon insists that he is not “on the run.

According to a report, an arrest warrant has been issued by a court in South Korea against the founder of Terraform Labs, Do Kwon, and five others. The report in question went on to say that the allegations against Do Kwon include violations of the country's capital markets laws, among others.

The founder of the collapsed crypto Terra (CRYPTO: LUNA) and terraUSD, Do Kwon on Sunday denied that he was on the run after the Singapore police said he was no longer in the country.  Last week, South Korean authorities issued an arrest warrant for Kwon and five others following the collapse of his blockchain platform Terraform Labs.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto's own research on the subject.  Launched to support the Terra stablecoin (UST), the Luna token (LUNA) was launched by Terraform Labs in 2019.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto's own research on the subject. LUNA is a cryptocurrency that supported the now-defunct stablecoin TerraUSD (UST).

Terra co-founder Do Kwon has been subject to many lawsuits and negative publicity after the mishap with the company's tokens. Tragedy struck some months ago after the company's stablecoin was depegged, causing its digital asset Terra to lose as much as 90% of its value.

Do Kwon, disgraced founder of the now defunct Terraform Labs, says he is not “on the run” only hours after Singapore police said he was no longer in the country. Kwon, along with five others, is facing arrest in South Korea after an arrest warrant was issued against him for charges of violating the Capital Markets Act.

Do Kwon, founder of now-defunct blockchain firm Terraform Labs, has broken silence about the recent warrant authorizing his arrest, claiming that he is not on the run from the law.

Terra LUNA founder Do Kwon could be facing the heat despite acting like the South Korean arrest warrant was not his concern. In a new turn of events, things seemed to be working against Kwon after a Bloomberg report showed that he was facing challenges in far-away Singapore.