The creator of the virtual currency Luna has just left Singapore, 9x CEO said he did not run away but refused to disclose his current whereabouts.
On September 17, Singapore police said that Do Kwon, CEO of Terraform Labs, is no longer in the country. A few hours later, Do Kwon took to Twitter to assert that he had no intention of fleeing and was willing to cooperate with the authorities.
Previously, on September 14, the Seoul, South Korean court’s prosecutor’s office issued an arrest warrant for Terraform Labs CEO and five others to investigate the Luna cryptocurrency disaster. At that time, 9x CEO was completely silent, and many sources said he was in Singapore.
He announced on twitter that he will share the location information if the person asking is “friend, have a meeting before, play games need to share gps address” in all other cases, he refused. In subsequent tweets, he announced that he was not absconding but needed to protect his personal information and wanted to clear up any future allegations.
Dear CT – I will tell you what i am doing and where i am if:
1) we are friends2) we have plans to meet3) we are involved in a gps based web3 game
Otherwise you have no business knowing my gps coordinates
— Do Kwon 🌕 (@stablekwon) September 17, 2022
The South Korean prosecutor’s office is also seeking permission from the Ministry of Foreign Affairs to revoke Kwon’s passport. If approved, CEO 9x must return to Seoul within 14 days.
In May, the crypto community witnessed one of the biggest disasters in history, when both the Luna and UST coins lost almost all of their value. Information released by the Korean Supreme Court office said that Terraform Labs decided to dissolve the Korean branch after a board meeting from April 30. This is considered unusual behavior right before the Luna incident took place.
After the Luna crash, a series of investigations in both the US and South Korea were triggered. In July, South Korean prosecutors raided the home of Daniel Shin, co-founder of Terraform Labs, to gather evidence. Company employees are also not allowed to leave the country until the investigation is complete.
Since Kwon has always denied the allegations related to this incident, asserting that the Terra project is not a multi-level fraud scheme. Kwon confirmed that he was also suffering heavy damage and did not know how much money he lost. When asked about the possibility of going to prison in the future, he was not too afraid, “Life is long” – he answered.
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