Terra Luna Founder Denies on the Run
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An editor at Coincrop
20 Sept 2022 | 2 min read
he South Korean founder of the failed cryptocurrency Terra, Do Kwon, denies that he is currently 'on the run' from police officers. This comes after Singapore investigators stated that he was not located in the city-state as they had earlier believed.
Earlier this year, the collapse of Terraform Labs cost investors over $40 billion. Kwon has been accused of fraud by five South Korean investors; he is being investigated by a financial crime’s unit and the Securities and Exchange Commission in the US.
On Wednesday, a South Korean court issued an arrest warrant for Kwon.
After Luna and Terra crashed, many investors lost everything they had put in. So far, multiple South Korean authorities have launched criminal investigations into the crash.
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