Terra bull news.
"I am not 'on the run' or anything similar—for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide,""We are in the process of defending ourselves in multiple jurisdictions—we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.
No doubt Do Kwon will be handing himself in to the nearest police station as we speak. The interesting element to this, should Do Kwon be arrested and face trial, is what level of criminal liability he may or may not hold for a market crash that he had no real interest in—Do Kwon's life's work imploded more-or-less overnight and he went from lauded crypto king to being accused of being a scammer or worse.
This is a pat summation but South Korean authorities will have to untangle whether Do Kwon is the fool, or those who followed him. The collapse of Do Kwon's TerraUSD, a so-called stablecoin, also took down the Luna token, which in turn led to the collapse of other crypto firms, because everything in crypto is interlinked. Estimates vary but Terra's collapse has been said to have wiped out and eye-watering $40 billion worth of value.
As well as South Korea, the crypto collapse has attracted the attention of US regulators, so the fun is only just starting for Do Kwon and friends. The Interpol red notice is becoming something of a stock response to crypto types trying to flee the consequences of their actions:Faruk Fatih Özer, the founder and CEO of the now-defunct crypto exchange Thodex, who had fled to Albania after a $2.5 billion rug-pull. Özer is now in Turkish jail awaiting trial with prosecutors asking for 40,564 years. On the bright side, with good behaviour he'll be out in half that.
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