Wednesday, November 30, 2022
HomeCrypto NewsMarketTerra Founder Invites Cops From World To Attend His 'Conference'

Terra Founder Invites Cops From World To Attend His ‘Conference’

- Advertisement -
Follow-Us-On-Google-News

Do Kwon Teases ‘A Conference’ In Response To Latest Claims By South Korean Authorities.


Do Kwon says he would hold a conference to debunk the stories making the rounds, promising to invite the police.

In a tweet hours ago, Terraform Labs’ founder, Do Kwon, in response to the latest reports making the rounds online, said he would be holding a conference to debunk the “falsehoods.”

According to Kwon, the police and persons responsible for sharing these stories are welcome to come. 

“Show up if you dare,” Kwon Taunts.

The latest statements come after a report from Korean Broadcasting System (KBS) made the rounds yesterday, alleging that South Korean prosecutors had obtained evidence that Kwon manipulated the price of Terra Luna Classic (LUNC) and is hiding in Europe. Furthermore, according to the report, officials have succeeded in invalidating his passport, making Kwon an illegal immigrant.

With the conflicting statements from Kwon and the recent reports, the public opinion on crypto Twitter remains divided on Kwon’s innocence or guilt. Many were amused to watch the drama unfold. On the other hand, others expressed disgust at the taunts from Kwon as they believed he should be held accountable, with one even threatening his life should he disclose his location. While some, like crypto journalist Laura Shin, expressed surprise.

Meanwhile, some Terra Classic community members expressed the sentiment that there is more to these stories than meets the eye. Notably, while being among those affected by the Terra ecosystem collapse in May, this group has chosen not to blame Kwon. Instead, they question things like the cancellation of his passport, the Interpol red notice, which authorities volunteered to make public but can not be found on the Interpol website, and stories of restrictions on Kwon in Singapore.

Notably, Kwon and his representatives have continued to label most of the information as false, including the idea that he is on the run, despite his unknown whereabouts. In addition, the TFL founder has expressed the sentiment that the charges against him in Korea are trumped up and political.

It bears mentioning that Kwon was behind the development of TerraClassicUSD (USTC), a “stablecoin” he promoted that proved unstable in May. The de-pegging of USTC crashed its sister token LUNC, wiping about $60 billion from the crypto markets while triggering a market-wide contagion that led to the collapse of several crypto lenders.

After launching an investigation against Kwon, suspecting foul play, Korean authorities issued an arrest warrant for the TFL founder in September, touting Capital Market Act and fraud charges.

Kwon’s last known location is Singapore. The TFL founder continues to work on the new Terra blockchain after handing over the Classic chain to the community. Yesterday, the founder proposed Cosmos Ecosystem solutions to help secure new blockchains.

- Advertisement -
Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.