CEO and Founder of Terraform Labs Do Kwon said that he is not on the run from law enforcement amid pending investigations<\/a> into Terra\u2019s failure, Kwon\u2019s involvement in the crash, and a red notice issued by Interpol.<\/p>\n\n\n\n South Korean authorities reportedly launched<\/a> probes into Terra\u2019s ecosystem after the project\u2019s algorithmic stablecoin TerraUSD (UST) triggered an estimated $40 billion wipeout<\/a> back in May 2022. The tumble also cratered UST\u2019s sister token LUNA in the process and has kept Kwon in the headlines ever since.<\/p>\n\n\n\n Speaking with crypto host Laura Shin on the UnChained podcast, the Terra boss questioned the legitimacy of the charges against him by local authorities. According to Kwon, actions taken by South Korean prosecutors in the matter are \u201cpolitically motivated<\/a>\u201d<\/p>\n\n\n\n Authorities claim that the Capital Markets Act was violated by Terraform Labs and its principals while UST and LUNA operated prior to May\u2019s crash. Legal proceedings have been leveraged to craft new policies without due process, Kwon said on Tuesday\u2019s podcast.<\/p>\n\n\n\n \u201cWe don’t think that any of the charges pertaining to the Capital Markets Act are applicable because the government’s stance has been that cryptocurrencies shouldn’t be governed by the Capital Markets Act because they’re not securities. We don’t believe these are legitimate charges and are politically motivated\u201d<\/p>\n\n\n\n The crypto billionaire also claims that authorities have not contacted him regarding the charges and that public media has been his source of information regarding the case.<\/p>\n\n\n\n When asked about his current location, Do Kwon refrained from sharing this information as in previous interviews. Kwon said disclosing his whereabouts could jeopardize personal security and make it harder for him to \u201ccontinue regular life\u201d. <\/p>\n\n\n\n The Terra CEO cited how multiple persons broke into his properties in Singapore and South Korea in May when Terra\u2019s crash happened. However, Kwon claimed that he is ready to cooperate with authorities despite the secrecy surrounding his whereabouts. <\/p>\n\n\n\n Singapore was Kwon\u2019s last known location before authorities reported<\/a> that he was no longer in the sovereign-island country.<\/p>\n\n\n\n Do Kwon also addressed claims that authorities froze $65 million in Bitcoin (BTC) owned by the Luna Foundation Guard (LFG). Reports erupted<\/a> in late September that the non-profit organization launched to support Terra\u2019s ecosystem, moved the BTC to wallets on crypto trading platforms Kucoin and OKX hours after Korean prosecutors issued Kwon\u2019s arrest warrant.\u00a0<\/p>\n\n\n\n Kwon added that the public can expect more clarity on LFG\u2019s activities and holdings since an on-chain analysis firm was hired to provide a report. The report is expected in the next few weeks, he said to Shin.<\/p>\n\n\n\n Finally, Do Kwon claimed not to have updates regarding the UST restoration<\/a> plan. After the stablecoin failed, both Kwon and the LFG tweeted intentions to initiate a refund to begrudged UST holders.\u00a0<\/p>\n\n\n\n Kwon cited civil litigations against the LFG and said the foundation is not in a position to \u201cmake clear disposal of its assets\u201d.\u00a0<\/p>\n\n\n\n![\"Do](\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Korean-Exchanges-Shun-Do-Kwons-LUNA-Listing-Request-As-Investigations.jpg\" "\\"\\"")
Do Kwon\u2019s Whereabouts, LFG\u2019s $65 Million Bitcoin, and UST Refund <\/h2>\n\n\n\n