Wanted by South Korean authorities and currently missing, Terra co-founder Do Kwon has suggested he is not changing his routine despite possible legal action against him.
In a Monday tweet, Kwon said that members of the crypto community on Twitter had probably seen him walking down the street or through shopping malls – not to mention the city or the country – in “the last two weeks”, despite the fact that Interpol would have issued a red alert for the co-founder of Terra. Kwon said to his more than a million followers in a reply that he had not seen his name on Interpol’s list of people to “locate and provisionally detain […] pending extradition, surrender or similar legal action,” but not all names are made public.
“I am programming in the living room of my house”, said Kwon. “I make no effort to hide.”
Active on social media while facing possible arrest and prosecution in South Korea, Kwon listed his location as Singapore on his Twitter account at the time of this story’s publication, but a September 17 news report from Reuters suggested that I might not be in the country. Terra’s co-founder has South Korean nationality. Dual nationality in South Korea is generally not allowed, with some exceptions, but it is unclear if Kwon holds more than one passport from a country.
Kwon, a prominent figure in the crypto world for his involvement with Terraforms Labs, became a person of interest to South Korean authorities when Terra’s algorithmic stablecoin TerraUSD Classic (USTC) – originally TerraUSD (UST) – decoupled. of the US dollar and fell almost to zero in a few weeks. The price of Terra (LUNA) – now Terra Classic (LUNC) – also plunged amid reported liquidity issues on many platforms, including Celsius.
Kwon, Terra and some of the company’s employees were the subject of an investigation by the South Korean financial authorities, which The offices of cryptocurrency exchanges Gopax, Coinone, Upbit, Bithumb and Korbit were reportedly raided in July. Later, a South Korean court issued an arrest warrant for Kwon and five people related to Terra for allegedly violating capital market laws.
Kwon posted on September 17 that he was not “on the run” or anything like that after the Singapore Police Force (SPF) said Kwon was not in the city-state. South Korea has no extradition agreement with Singapore, and Interpol’s red alert can only ask local security forces to detain Kwon if they locate him.
Amid controversy over Kwon’s whereabouts and possible arrest, Indonesian financial authorities have been working to amend existing policy to prevent similar situations among leaders of cryptocurrency companies in the country. Cointelegraph reported on Sept. 21 that the head of the Commodity Futures Trading Regulatory Agency, Didid Noordiatmoko, said that proposed changes to ensure that two-thirds of the directors and commissioners of crypto firms are Indonesian citizens would help investors. leaders “not to flee the country if a problem arises.
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