Do Kwon, the South Korean co-founder of the failed cryptocurrency Terra, has sent multiple tweets in which he denies running away from the law and says that the police have no “business” knowing where he is.
On the suspicion that they violated capital markets law, an arrest warrant has been issued for Mr. Kwon, along with warrants for the arrest of five other people.
The prosecutor’s office in Seoul said on September 14 that he was in Singapore, but the police in the city-state of Singapore stated on Saturday night that Mr. Kwon was not there. Because of this, people all over the world have been curious about where he is.
“I will tell you what I am doing and where I am if any of the following three conditions are met: 1) we are friends; 2) we have arrangements to meet; or 3) we are participating in a web3 game that uses GPS. If that is not the case, then you have no right to know my GPS locations,” he tweeted.
“I am not ‘on the run’ or anything similar—for any government agency that has shown an interest in communicating, we are in full cooperation and we don’t have anything to hide,” he added.
According to the statement made by the developer, “we are in the process of defending ourselves in multiple jurisdictions.”
“We have held ourselves to an extremely high bar of integrity, and we look forward to clarifying the truth over the next few months,” he said.
Mr. Kwon was the main person who made Luna and TerraUSD, two cryptocurrencies whose sudden drops in May sent shockwaves through the entire cryptocurrency market.
Elliptic, a blockchain analytics company, says that people who invested in both currencies lost about $42 billion.
After being accused of fraud by five investors headquartered in South Korea, he is now the subject of an inquiry that is expected to last for many months. Both the Financial Crimes Unit in South Korea and the Securities and Exchange Commission in the United States are conducting investigations against him at this time.
In the series of tweets, Mr. Kwon also joked that despite the fact that he has to “cut some calories,” he hasn’t gone jogging in a while.
The prosecutor’s office in South Korea is trying to get permission from the minister of foreign affairs to revoke his passport, which would force him to come back within 14 days.
The statement was released by the Singaporean police on Saturday evening and read: “Do Kwon is currently not in Singapore.”
“SPF will assist the Korean National Police Agency (KNPA) within the ambit of our domestic legislation and international obligations,” the statement added.
In addition to the losses associated with investing in the failed tokens, the collapse of the two cryptocurrencies in May shook the whole cryptocurrency market, causing losses estimated at over $500bn. The fallout sparked public outrage in South Korea.
