Do Kwon, founder of now-defunct blockchain firm Terraform Labs, has broken silence about the recent warrant authorizing his arrest, claiming that he is not on the run from the law.
A court in South Korea issued an arrest warrant for Do Kwon last week Wednesday, as reports suggested. Besides Do Kwon, the warrant permits the arrest of five other individuals affiliated with Terra. According to the court, Do Kwon and his partners violated the provisions of the Capital Market Act of South Korea.
While several proponents, especially the entirety of Crypto Twitter, believe Kwon is now eluding the authorities, the Terra boss has come up to dispel such beliefs. ‘I am not “on the run” or anything similar,” Kwon said in a tweet Saturday, three days after reports of the arrest warrant surfaced.
Speaking further, Kwon noted that he and his team are ready to discuss with relevant authorities seeking to communicate. According to him, they are willing to cooperate with the demands of the authorities because they “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,” Kwon added, suggesting an inclination to subject himself to any form of litigation.
Nonetheless, regarding his whereabouts, the Terra boss has remained mum on the matter, citing privacy concerns. He noted that his whereabouts will only be disclosed to people who are his friends, whom he has plans of meeting, or with whom he plays a GPS-based Web3 game.
Singaporean authorities willing to work with South Korea, but Kwon might no longer be in the country
The warrant was the first ever official authorization of the arrest of the Terra boss since the Terra debacle which led to investor losses to the tune of tens of billions of dollars.
Recall that, last month, during his first ever official interview following the Terra crash, Do Kwon remarked that he was cooperating with the authorities. Furthermore, Kwon mentioned that he had moved to Singapore, but would not disclose his exact whereabouts.
A day after the warrant became public, reports surfaced, suggesting that South Korean authorities were looking to revoke Kwon’s passport. According to a local news outlet, Dan Seong-han, the director of the Seoul Southern District Prosecutor’s Office filed a request to the South Korean Ministry of Foreign Affairs, asking for the revocation of Kwon’s license, among five others.
Should Kwon’s passport get revoked, the 31-year-old developer would hold the status of an “illegal alien” in Singapore if he has no other passport. Additionally, despite not having any terms of extradition treaty with South Korea, Singaporean authorities have indicated interest in assisting South Korea in the case against Kwon.
Notwithstanding, it appears Kwon might no longer be in Singapore. The Singapore Police Force said Saturday that the Terra CEO was not in the country.