The founder of the notorious cryptocurrencies UST and LUNA gave an interview for the first time after losing $ 45 billion

Do Kwon, the CEO of the notorious cryptocurrency ecosystem Terraform Labs, which suffered significant losses to investors after the collapse of its stablecoin TerraUSD (UST) and token Terra (LUNA), gave his first interview after losing $ 45 billion.

The interview became known thanks to Coinage Media co-founder Zach Guzman, who posted a teaser of the conversation with Do Kwon on Twitter. The video begins with Kwon’s words: «Terra was supposed to be a stablecoin, but it couldn’t stay stable. So I became a fraudster.»

Interestingly, while Do Kwon is giving interviews and reflecting on «why the collapse occurred,» the South Korean prosecutor’s office investigating the collapse of the Terra ecosystem has asked the Ministry of Justice to ban Terra co-founder Daniel Shin and all former and current Terraform Labs executives from leaving the country. The district attorney also asked the DOJ to send a «notice of arrival» (NOA) to Do Kwon. Currently, Do Kwon is in Singapore and it is unknown whether he will appear in Korea in the near future.

As it became known earlier, the South Korean prosecutor’s office conducted searches in 15 companies, including 7 cryptocurrency exchanges, all because of the investigation into the collapse of the UST and LUNA cryptocurrencies. Law enforcement agencies launched the investigation after investors filed a lawsuit against Terraform Labs CEO Do Kwon and co-founder Daniel Shin, who are considered guilty of losing their funds.