Do Kwon, the co-founder of Stablecoin TerraUSD, is a wanted man in South Korea. As a result, the world’s largest cryptocurrency exchange is avertissement users that it is not responsible for their choice to invest in Do Kwon tokens.
Last week, a South Korean laconique issued Arrest caution As for Do Kwon, which created the définitif algorithm company, TerraUSD, as well as its sister cryptocurrency, Luna. The failure of the stablecoin TerraUSD created the domino effect responsible for the massive cryptocurrency écrasement this summer. Prosecutors say Do Kwon is wanted for the prosecution violating Pécule Markets Law.
However, since this order was issued, Do Kwon has not been found anywhere. It was originally believed that Do Kown is in Singapore, but the Singapore Commissariat Étudié said Reuters Last weekend, the co-founder of TerraUSD was no coudoyer in the city-state.
On Saturday, Do Kwon posted a procession Tweet thread In an difficulté to address issues related to its current redevance. While he refused to share even allocutaire details of his redevance, Do Kwon claimed that he was not trying to evade arrest.
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“I’m not a ‘runaway’ or anything similar – for any government agency that has shown an interest in outreach, we’re in full cooperation and we have nothing to hide,” he said in one. tweet.
South Korean prosecutors challenged the allegations the next day, saying that Do Kwon was an “obvious fugitive”. according to Yonhap News AgencyProsecutors confirmed that Do Kwon traveled to Singapore in late April and closed the South Korean subsidiary of his company, Terraform Labs, in an attempt to “evade recherche”.
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And things keep escalating for Do Kwon. Monday , financial times mentioned South Korea has asked Interpol to solution a “red annotation” to Do Kwon, which would alert law enforcement authorities around the world to the réflexion.
While the étalon stablecoin Do Kwon went into smoke earlier this year, the crypto founder has attempted to recover by relaunch Cryptocurrency via a new token known as Terra 2.0. It was quickly listed on originel crypto exchanges where users can still trade the token as of the édition of this alinéa. The arrest caution issued in South Korea for its founder does not appear to have had an conséquence on the exchanges, journalist Jacob Silverman noted on Twitter.
However, the world’s largest cryptocurrency exchange, Binance, has taken fonctionnement… not just by deleting the token. Instead, when users état on Binance’s Terra 2.0 trading webpage, a mobile appears on the screen.
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“Please réflexion: A South Korean laconique has issued an arrest caution against the co-founder of Terra 2.0 (LUNA),” the letter read. “Please understand the risks involved and trade with réputation. Binance will not be liable for any trading losses.”
Then users are asked to click the “I understand” button.
At press time, Terra is trading at $2.60, which is emboîture 40 percent down from the right before prosecutors issued an arrest caution for Do Kwon last week.