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Terra's Do Kwon May Be in Europe: Report
Prosecutors also said they have obtained chat histories which point to price manipulation of the tokens he created, according to the report.
Updated May 9, 2023, 4:01 a.m. Published Nov 4, 2022, 11:47 a.m.
South Korean prosecutors have indicated the fugitive co-founder of Terraform Labs, Do Kwon, is in Europe, Bloomberg reported on Friday.
Prosecutors also said they have obtained chat histories that point to price manipulation of the tokens he created.
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The Terra ecosystem collapsed in May, losing $60 billion in value, after which Kwon faced charges of violating capital markets laws in South Korea. Terra's collapse was a seismic event in the crypto industry with reports of some investors losing their life savings.
Kwon departed his native South Korea for Singapore, denying reports that he was on the run. He claimed he had moved to Singapore prior to the collapse of Terra.
He reiterated this claim on Twitter this week, saying he would throw a conference "to get over this in hiding bs."
Alright ill throw a meetup/conference soon to get over this in hiding bs
— Do Kwon 🌕 (@stablekwon) November 3, 2022
Cops from world over welcome to attend
Last month, it was reported that he had left Singapore for Dubai.
Terraform Labs did not immediately respond to CoinDesk's request for comment.
Read more: How South Korea’s National Assembly Got Stood Up by Crypto Industry Reps at Terra Hearing
CORRECTION (Nov. 4, 15:15): Corrects Terra ecosystem loss to $60 billion in third paragraph. An earlier version of this story said $60 million.
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