Updated on January 9, 2023 12:50 PM
Do Kwon, the founder of Terraform Labs, maybe "Residing" in Europe as South Korean authorities investigate him for breaking the country's capital markets regulations?
According to Bloomberg, South Korean authorities acknowledged that local rumors about putting Kwon in Europe were "not incorrect."
Kwon, who has been on the run from authorities for months, has denied abandoning his home country of South Korea, despite lately claiming to be in Singapore.
When asked to comment on claims indicating conversation logs revealing Terra currency price manipulation, the prosecutors used the same "not untrue" terminology. Kwon contributed to the creation of the Terra currency.
A recent tweet from Do Kwon shows that he isn't running from prosecutors. Recently, he tweeted to arrange a conference meet-up and called all the cops worldwide.
He also dared people who have spread false news about him during this period of anonymity. He sarcastically replied,
"For those spreading falsehood on the taxpayer's dime, you are invited with VIP honors - will even pay for your plane ticket.
Show up if you dare."
The Terra ecosystem crashed in May, causing a $60 billion loss in value, and Kwon was charged with breaking South Korean capital market regulations. The fall of Terra was a seismic event in the cryptocurrency market, with accounts of investors losing their life savings.
Kwon went from South Korea to Singapore, rejecting claims that he was on the run. He claimed to have relocated to Singapore before Terra's decline.
Despite earlier expressing "complete cooperation" with any government body interested in talking with him, Kwon has expressed no genuine desire to return to South Korea. Prosecutors replied by requesting that the South Korean Foreign Ministry cancel Kwon's passport.
Prosecutors then solicited the assistance of the international crime organization Interpol, which issued a "red alert" against the founder. That warning essentially directs law enforcement authorities all across the world to conduct an arrest.
The case is still going on, and the search for Do Kwon's exact location still needs to be traced. However, with every clue, investigators are getting closer to Do Kwon.