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. The prosecutor’s office in Seoul as recently as September 14 said that Kwon and others were all in Singapore. Kwon responded to a police statement on Saturday that he does not have anything to hide and is in “full cooperation” with government agencies. Kwon said:
“For any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide.” Adding, “We are in the process of defending ourselves in multiple jurisdictions—we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.”
Kwon did not provide any specifics on his whereabouts.
According to reports from Bloomberg, the South Korean prosecutor’s office is also looking for permission from the country’s Foreign Ministry to have Kwon’s passport revoked. Should permission be granted, he would have to return to Seoul within 14 days. Singapore police have said they will assist the Korean National Police Agency “within the ambit of our domestic legislation and international obligations.”
Do Kwon has been embroiled in scandal ever since one of the biggest disasters to happen to crypto struck earlier this year. In May, TerraUSD, also known as UST, crumbled from its dollar peg and caused the collapse of the entire ecosystem around it. The catastrophe caused a $60 billion wipe-out and also saw the implosion of a related token known as Luna.
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