Do Kwon Breaks Silence, Says he is Not On the Run

Do Kwon Breaks Silence, Says he is Not On the Run

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Despite Interpol issuing a “red notice” on the controversial Terra CEO last month, Do Kwon on Tuesday denied being on the run from the prosecutors.

In a recent interview with Laura Shin, Kwon said he moved to Singapore from South Korea prior to the crash of Terra and its entire ecosystem in May.

“There’s no reason why any government official would believe we fled to Singapore,” Kwon said.

Kwon also responded to claims that his funds have been frozen on different cryptocurrency exchanges (Kocoin and OKX). According to him, any of his funds have not been frozen by the law enforcement agency.

“To say that the funds are frozen, I have not used KuCoin or OKX, as far as I can remember. I don’t have any funds there. If they froze $67 million I would definitely have noticed,” he reiterated.

“There have been allegations that we moved LFG [Luna Foundation Guard] funds into a Gemini custody wallet and that it’s sitting there. All we did – to confirm a trade with market maker – is transfer it to an address on the market maker’s instruction,” he furthered.

Terra ecosystem crash in May sent a shock wave across the crypto space, strengthening the doubt of investors about cryptocurrency projects, many investors lost their life savings to this event, while a man in Taiwan reportedly lost $2 million which led to him committing suicide.

During the interview, Do Kwon responded by saying that “I am sorry” after being pressured by Shin, “It could seem that the way we are responding to allegations and news reports that we are being defensive. That is not the case.” said Kwon.

“Statements about the stability of UST led traders to gain confidence in a system that ultimately failed. I do apologize and own up to the responsibility of that,” he concluded, referring to the terraUSD stablecoin developed by his Terra Labs.

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Where is Kwon?

One of the hot topics in the Terra ongoing story is Do Kwon’s whereabouts which he was questioned about.

“I could answer that, but the problem is that I don’t want there to be a bunch of guesswork in terms of which country and which city I have been living in,” he said. “The easier that I make it for people to figure out my location, the harder it is for me to continue regular life.”

“The main reason why I don’t want to talk about my location to the media is because, when the crash happened in May, there were lots of situations where personal security was threatened,” he told Shin, noting that “people broke into my apartment building.” Saying that it happened at both his home in Singapore and in South Korea. “Every time the location where I live becomes known, it becomes almost impossible for me to live there,” he said.

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