Terra (LUNA) founder Do Kwon has denied that he is evading authorities despite statements from South Korean prosecutors claiming the contrary.
Bloomberg recently reported that warrants were issued to Kwon and five others who were charged with violations of South Korea’s capital markets law.
The embattled Terraform Labs founder tells his one million Twitter followers that he has no plans to hide from law enforcement agencies.
“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.
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.”
Local media outlet Yonhap News has reported that South Korean prosecutors say that Kwon is “obviously on the run.”
While South Korean authorities originally alleged that Kwon and others were in Singapore, a new report from Reuters says that the crypto entrepreneur is no longer in the country, leaving his whereabouts unknown at time of writing.
The Terra ecosystem collapsed in May this year when TerraUSD (UST), the project’s stablecoin, lost its dollar peg and spiraled down to essentially zero. The situation caused approximately $40 billion in damages to investors.
Kwon has been accused by South Korean authorities of running a “Ponzi fraud,” namely with Terra-based decentralized finance platform Anchor Protocol, which offered investors of UST returns of approximately 20%.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/HstrongART
Credit: Source link
