Crypto developer and Terraform Labs co-founder Do Kwon has clarified that he is not in hiding following reports that a South Korean court issued arrest warrants for the co-founder and a few others.
A recent Reuters article said that the Singapore Police Force has confirmed Kwon is not in the country.
Terraform Labs founders Daniel Shin (left) and Do Kwon / Photo credit: Terraform Labs
“I am not ‘on the run’ or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide,” said Kwon in a Twitter post. He added that his team is currently defending themselves in several countries.
The warrants for Kwon’s arrest were for violating South Korea’s capital market laws, among other allegations, and had placed the six individuals in Singapore, where Terraform Labs is based.
“We have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months,” he said.
Terraform Labs operates the Terra crypto ecosystem, which experienced a crash in May that caused more than US$40 billion in global losses.
See also: Terra, Celsius raise prospects for crypto insurance
Editing by Miguel Cordon and Lorenzo Kyle Subido
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