Key Takeaways
- Do Kwon has denied claims that he is “on the run” from authorities after a warrant was issued for his arrest this week.
- Singapore police reported that he had fled the country Saturday, and prosecutors have hit back at his latest claims to say that he “escaped.”
- The crypto community has been calling for Kwon’s arrest since Terra collapsed in May.
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Kwon insisted that he was “not ‘on the run’” on Twitter Saturday. Authorities have suggested otherwise.
Do Kwon Disappears
Do Kwon may or may not be “on the run,” depending on whom you ask.
Questions over the Terraform Labs CEO’s whereabouts surfaced this weekend after Singapore authorities issued a statement claiming that he was not in the country. Reuters reported on the development Saturday.
Dear CT – I will tell you what i am doing and where i am if:
1) we are friends
2) we have plans to meet
3) we are involved in a gps based web3 gameOtherwise you have no business knowing my gps coordinates
— Do Kwon 🌕 (@stablekwon) September 17, 2022
Within hours of the update, Kwon took to Twitter to dismiss the claims. “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,” he wrote, adding that Terraform Labs had held itself to “an extremely high bar of integrity” as it faces lawsuits in multiple jurisdictions. Crypto Briefing reached out to Kwon to ask about his whereabouts, but had not received a response at press time.
South Korean news outlet Yonhap followed Kwon’s tweets with an update Sunday, reporting that authorities had dismissed Kwon’s claims. According to the report, the prosecution concluded that “it is clear that he escaped.” The report further noted how Kwon had dissolved Terraform Labs’ Korean entity in April in the lead-up to Terra’s $40 billion collapse then departed for Singapore, something Kwon claimed was a pure coincidence when questioned following Terra’s implosion.
This weekend’s developments come after a Seoul court issued warrants to arrest Kwon and five of his associates earlier this week. The warrants alleged that the group had violated Korean capital markets law, local media reported citing a message from the prosecutor’s office. Following the update, it emerged that South Korea’s Ministry of Foreign Affairs was seeking to revoke Kwon and four of his…
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