Terra CEO Do Kwon Claims He Hasn't Seen The Arrest Warrant From S. Korea

Here’s Why Terra’s Do Kwon Cannot Reveal His Location

Do Kwon told host shin on the Unchained Podcast, published on Tuesday, that he hasn’t seen the warrant Arrest from Korea yet

Terraforms CEO Do Kwon was invited for an interview on Tuesday at the Unchained Podcast hosted by Laura Shin, a Crypto/Blockchain journalist, following charges levied against him by South Korean authorities amid the collapse of the Terra ecosystem.

Terra’s Do Kwon Refutes Seeing Any Arrest Warrant

In the interview, Kwon told Shin that he hadn’t seen any arrest warrant from the Korean authorities yet. He dismissed reports as media claims. Shin reminded Kwon that the authorities made the warrant in PDF since they were unable to physically deliver the warrant arrest to him. 

But Kwon responded that he hadn’t seen the warrant physically nor in the PDF version either. “We haven’t seen a copy of the arrest warrant, so every piece of data we are consuming is from the media,” he said. 

Kwon furthermore admitted that he’s in touch with the prosecutors and has responded to all the requested documents by the agencies. However, he failed to disclose his current location due to possible threats to his personal security. 

“The main reason 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,” said Do Kwon. “Every time the location of where I live becomes known, it becomes almost impossible for me to live there.”

Previous reports gathered claimed that officials have frozen about $66 million worth of assets approximately that allegedly belonged to Kwon. However, Do Kwon dismissed the claims, saying in the interview that the reports were misinformation. 

Do Kwon’s Location Remains Unknown

Kwon’s location has remained unknown ever since the South Korean authorities issued a warrant for Kwon’s arrest in mid-September 2022. The prosecutors have also pressed some charges against him due to the collapse of Terra and its stablecoin that consequently wiped out $60 billion.

The stablecoin TerraUSD was meant to be at a constant price equivalent to $1 via algorithms and trader incentives involving Luna. But it came as a shock to the whole market when the stablecoin’s price collapsed completely in May.

The incident had a ripple effect across the crypto market. It is also worth noting that several cryptocurrency companies, like Three Arrows Capital, went bankrupt due to the mishap. This affected other notable crypto lenders/broker companies that also filed for bankruptcy, such as Celsius Network and Voyager Digital Ltd.

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