TerraUSD Crypto Founder Do Kwon Denies He’s Running

Do Kwon, the founder collapsed Luna and TerraUSD tokenssaid he was not “on the run” hours after Singapore police announced that he was no longer in the country.

Kwon, along with five others, is facing arrest in Korea. As recently as September 14, the prosecutor’s office in Seoul said he and others, who were accused of violating capital markets laws, were in Singapore. After local police released a statement on Saturday, Kwon tweeted that he had nothing to hide and was “cooperating fully” with government agencies.

“For any government agency that wants to be contacted, we are fully cooperative and we have nothing to hide,” Kwon said, without providing specifics about his whereabouts. “We are in the process of defending ourselves in many jurisdictions — we have maintained an extremely high level of integrity and look forward to having the facts cleared up over the next few months.”

The South Korean prosecutor’s office is also seeking permission from the country’s foreign ministry to revoke Kwon’s passport. If that happens, Kwon will have to return to Seoul within 14 days, according to policy.

Singapore police told Bloomberg they will support the Korea National Police Agency “within the scope of our domestic law and our international obligations.”

Kwon find myself in the center one of crypto’s biggest explosions when TerraUSD, also known as UST, collapsed from its dollar peg and destroyed the ecosystem he had built. The $60 billion write-off also saw the explosion of a related token known as Luna. The crash in May has shaken confidence in the digital asset sector, which has yet to recover many of its losses.

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