Wanted by Interpol, Do Kwon still participates in Terraform Labs activities, preparing to re-export with Terra 2.0

A source from Terraform Labs, the developer of two cryptocurrencies that collapsed in May 2022, LUNA and stablecoin UST, said that CEO Do Kwon is preparing to return to the cryptocurrency market, despite being under pressure. wanted by the Korean government.

Specifically, Zion Schum, Terraform Labs Communications Director, confirmed to DL News that Do Kwon remains involved in all day-to-day operations of Terraform Labs, including strategy and product development.

However, Schum refused to reveal Do Kwon’s current location, although it was previously reported that in October 2022, Do Kwon had moved from Singapore to Serbia. By December 2022, according to information from Chosun (Korea), Kwon is currently believed to be in Serbia, a landlocked country in southeastern Europe.

New products incubated by Do Kwon will be for Terra 2.0, the new blockchain relaunched just a few weeks after the LUNA-UST domino chain took place. Since then, the old Terra blockchain was renamed Terra Classic, LUNA renamed LUNC, and UST as USTC.

Terraform Labs is known to be changing the orientation of Terra 2.0 so that it can be linked with many other blockchains. The company is working on many other projects to take the idea further.

In recent times, Terraform Labs has ramped up recruitment activities for positions ranging from multitasking programmers to smart contract developers. A candidate revealed to DL News that Do Kwon personally participated in a job interview and said that “this is an opportunity to work with the most talented person in the DeFi industry”.

The last time Do Kwon appeared in front of the media was an interview with Coinage in August 2022, and another “unofficial” appearance when the FTX disaster occurred in late 2022.

Do Kwon is currently wanted by the International Criminal Police Organization (Interpol) at the request of the Korean side. The bankruptcy of Kwon’s Terraform Labs cryptocurrency project in May 2022 has shaken the global cryptocurrency sector and caused many investors to lose or even lose everything.

Before its collapse, the platform was valued at $60 billion. Currently, Kwon is facing charges in South Korea, including violating capital markets laws.

Faced with suspicions about the escape, Do Kwon took to Twitter to assert that he had no intention of fleeing and was ready to “cooperate” with the authorities.

“Whenever any government agency wants to get in touch, we fully cooperate and have nothing to hide,” Kwon said, without giving details of his whereabouts. “We are in the process of defending ourselves, being as honest as we can and looking forward to clarifying the truth in the next few months.”

However, according to Yonhap news agency, Kwon did not cooperate in the investigation process. This man also assured investigators that he did not intend to appear for questioning.

Reference: DL News