Kwon Do-Hyung, Terraform Labs Pte. Ltd. CEO, stated sarcastically on his verified Twitter that he will disclose his location soon.

In a subsequent tweet, Kwon appeared to make a jab at South Korean prosecutors, writing, "For those of you who have been spreading false claim on the taxpayers' dime, you are invited with VIP honors - will even pay for your flight ticket... If you dare, show up."

Kwon's tweet came shortly after South Korean media reported, citing local prosecutors, that Terra's CEO had relocated to a European country. After his stay in Singapore with Kwon, Nicholas Platias, the former Terra Head of Research who is also being sought by South Korean authorities, has returned to his native Greece.

Choi Sung-kook, the prosecutor at South Korea's Seoul Southern District Prosecutors' Office, revealed to Forkast that the information reported is "not false" but declined to reveal which European country Kwon is currently living in.

According to South Korean prosecutors, Kwon left his previous abode in Singapore in September and flew to Dubai.

Furthermore, South Korean prosecutors have obtained and are investigating private messages of Do Kwon telling a Terraform Labs employee to deceive the market price of Terra stablecoin and Luna intentionally.

This may add fuel to South Korea's investigation into Kwon in connection with the May collapse of Terra-LUNA, which wiped out US$60 billion in crypto market capitalization, and for which Kwon is facing charges such as fraud and Capital Markets Act violations.

Both Kwon and Terraform Labs have yet to respond to Forkast's Friday morning request for comment on these allegations.

Local prosecutors have issued a warrant for Kwon and five other Terra associates. Interpol has released a red notice on the six people, requesting that global police departments locate and arrest the listees.

Meanwhile, Do Kwon and Terraform Labs are indeed the focus of a class action case submitted in Singapore on behalf of 359 multinational investors who ended up losing approximately US$57 million in the Terra-LUNA collapse.

A follow-up proceeding for the lawsuit was set to take place on Wednesday, Nov. 2, according to Singapore's official judiciary website, but the notice of the hearing was reportedly deleted from the website, and no follow-up trial for the lawsuit has been declared.

What do you think about the crypto fugitive Do Kwon being on the run in Europe? Let us know your thoughts by sharing this article on social media.

Nov 4, 2022
Crypto News

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