Terra co-founder Do Kwon has been subject to many lawsuits and negative publicity after the mishap with the company’s tokens. Tragedy struck some months ago after the company’s stablecoin was depegged, causing its digital asset Terra to lose as much as 90% of its value. Some weeks back, authorities in South Korea issued a warrant for his arrest for some misdoings.
Terra co-founder says he is not on the run
In a new Twitter thread, Do Kwon has mentioned that he is not on the run following some reports that claimed that he is no longer at his known address. Authorities have been looking for him at his Singapore home but claimed that the Terra co-founder was not there. In his thread, Do Kwon mentioned that he was not hiding or on the run. He also chipped that he and his team are ready to talk to any agency regarding the issue, as they have never dealt in bad faith regarding the issues that occurred in the company.
The Terra co-founder noted that the company is presently bracing up for the numerous lawsuits filed across different courts. Do Kwon positioned that the company has built a foundation on integrity, and they look forward to showing how innocent they are in the issues to the world in the coming months.
Regulators are targeting Terra
In his thread, Do Kwon cautioned people over trying to ascertain his location at each particular time. He noted that the only reason he will reveal his whereabouts and what he is up to is if he is talking to his close friends. The co-founder also noted that users have no business with their activities as he is taking his time alone. Finally, he cautioned them over trying to invade his privacy with the Terra boss, noting that most people do not like it when others invade their private space.
The Terra co-founder has been charged with going against the capital market rule in South Korea and some other lawsuits in other parts of the world. The fall of the Terra tokens set the market on a massive downtrend that has continued to this day. The collapse also caused most lending platforms to fold up as regulators began to target lending platforms. The SEC is keeping tabs on Kwon as they are still investigating his activities off the back of the crash.