Cryptocurrency developer Luna says it does not intend to surrender to law enforcement

Earlier, a South Korean court ratified the arrest warrant for Terraform Labs founder Do Kwonand several top managers of the company. Authorities assumed that the developer was hiding in Singapore, but according to local police, this is not the case.

On Saturday, September 17, Do Kwon made an official statement on Twitter and noted that he did not intend to hide from law enforcement agencies and was ready to cooperate with the South Korean authorities, as he had nothing to hide. The developer also emphasized that it is not necessary to know his exact coordinates to interact with him.

Do Kwon is accused by the South Korean authorities of violating local legislation on financial markets. The collapse of the Terra ecosystem triggered a massive sell-off in cryptocurrencies and marked the beginning of the «crypto winter,» against which many assets collapsed. The fall of the UST stablecoin formed the basis for a number of high-profile bankruptcies of cryptocurrency lenders such as Celsius and Voyager.

At the moment, the South Korean authorities are considering revoking Do Kwon’s passport and terminating his citizenship for expedited extradition and investigative measures.