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Do Kwon: Wanted South Korean Crypto developer says he’s ‘not on the run’ in sarcastic tweets


Do Kwon, South Korea’s co-founder of the failed cryptocurrency Terra, has issued a series of sarcastic Tweets denying that he’s on the run and saying police don’t have any “business” knowing his location.

Mr Kwon is facing an arrest warrant in South Korea together with five other people for allegedly violating capital markets law.

His whereabouts have been the topic of international intrigue after the prosecutor’s office in Seoul said on 14 September that he was in Singapore, however the city-state’s police said on Saturday night that Mr Kwon just isn’t there.

“I’ll let you know what i’m doing and where i’m if: 1) we’re friends 2) we’ve got plans to satisfy 3) we’re involved in a gps based web3 game. Otherwise you’ve gotten no business knowing my gps coordinates,” he said in a tweet.

“I’m not ‘on the run’ or anything similar – for any government agency that has shown interest to speak, we’re in full cooperation and we don’t have anything to cover,” he added.

The developer said they’re “within the strategy of defending ourselves in multiple jurisdictions”.

“Now we have held ourselves to an especially high bar of integrity, and sit up for clarifying the reality over the following few months,” he said.

Mr Kwon was the first developer of the cryptocurrencies Luna and TerraUSD, whose spectacular collapse in May roiled crypto markets all over the world.

Investors within the two coins lost an estimated $42bn, based on blockchain analytics firm Elliptic.

He’s facing a months-long investigation after five investors based in South Korea accused him and others of fraud. He’s being investigated by the financial crimes unit in South Korea and within the US by the Securities and Exchange Commission.

Within the series of Twitter posts, Mr Kwon also quipped that he has not gone running shortly though he must “cut some calories”.

The South Korean prosecutor’s office is attempting to seek permission from the foreign ministry to have his passport revoked, which might force his return inside 14 days.

On Saturday night, Singapore’s police said: “Do Kwon is currently not in Singapore”.

“SPF will assist the Korean National Police Agency (KNPA) inside the ambit of our domestic laws and international obligations,” the statement added.

In addition to the losses to investing within the failed tokens, the collapse of the 2 cryptocurrencies in May rocked the broader crypto market sparking losses estimated to be price greater than $500bn. The fallout sparked public outrage in South Korea.

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