Terraform Labs recently stated that the case against Do Kwon is still highly politicized. The firm noted that there is "no reasonable prejudice" in their claims of violations of the capital market laws.
Terra founder Do Kwon have undergone various twists and turns.
While Interpol is looking for Kwon, the Terra founder claims that he is not hiding and is living a regular life.
Terraform Labs recently stated that the case against do kwon is still "highly politicized." The spokesperson said in a statement that the South Korean prosecutors had shown "disparities and a refusal to defend basic rights guaranteed by Korean law." He also noted that there is "no reasonable prejudice" in their claims of violations of the capital market laws.
The downfall of the Terra ecosystem in May 2022 wiped out more than $60 billion in investor capital. South Korean authorities recently requested Interpol's assistance in locating Terra founder Do Kwon. Earlier this month, Terra's founder was reportedly in Singapore. However, according to the city police, Kwon is no longer in the country. Prosecutors have already said that Kwon has been dodging their investigation.
Do Kwon Isn’t Running Away
The Terra founder has denied rumors that he is hiding somewhere and said in a tweet earlier this week that he is living a regular life. According to the Terraform Labs spokesperson, Kwon is in contact with all federal entities that have requested to communicate with him via attorneys.
He further stated that “he is not on the run and is still actively involved in the management and oversight of Terraform Labs.”
Recent reports suggested that Kwon has been transferring over 3,000 Bitcoins from Terra's reserves. However, the parent organization, the Luna Foundation Guard, has denied this allegation.
Later, Do Kwon responded by stating: "What has probably been most astonishing in all of this is the amount of misinformation that gets shared." There is no such thing as a cashout, I haven't used KuCoin or Okex in at least a year, and no money of TfL, LFG, or any other businesses has been frozen.
COINGABBAR VIEWS: Following the breakdown of the Terra ecosystem in late May, the Terra founder came under the scrutiny of South Korean authorities. There are still more facts to be revealed about the terra ecosystem's collapse in the coming days. For the upcoming updates on the terra ecosystem investigation. follow Coingabbar.
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