Crypto founder behind $60 billion collapse says he is not hiding - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: International News (https://forums.ipoh.com.my/forum-13.html) +---- Forum: Business, Economy and Investment (https://forums.ipoh.com.my/forum-56.html) +---- Thread: Crypto founder behind $60 billion collapse says he is not hiding (/thread-6339.html)

Crypto founder behind $60 billion collapse says he is not hiding - superadmin - 09-27-2022 Crypto founder behind $60 billion collapse says he is not hiding after Interpol issues arrest notice Do Kwon is the founder of Terraform Labs, the company was behind the algorithmic stablecoin terraUSD and luna. Combined they were worth around $60 billion but collapsed to near-to-nothing. South Korean authorities have sought his arrest and claim that Interpol has issued a “Red Notice,” which is effectively a global arrest warrant. Kwon refutes the South Korean authorities’ claims, saying he is not on the run and making “zero effort to hide.” Kwon’s Twitter location says he is in Singapore. But earlier this month, the Singapore Police Force said that Kwon was not in the city-state. Do Kwon, the founder of Terraform Labs, insists he’s not on the run from South Korean authorities after the country’s prosecutors’ office said it had received an international arrest warrant for the cryptocurrency executive. Kwon’s company was behind the algorithmic stablecoin terraUSD or UST and its sister token luna which, combined were worth around $60 billion and in May collapsed to near-to-nothing. Contagion spread across the industry with those exposed to terraUSD and luna, including ultra-bullish hedge fund Three Arrows Capital, feeling the pain. - More -