Do Kwon reappears

 In a rare appearance, Terraform Labs CEO said not to run away, and said that it is no longer related to the old Luna (Lunc).


"I checked the red notice on the official Interpol website and as you can see, there is no such order," Do Kwon began the interview on UnChained, YouTuber Laura Shin's popular cryptocurrency podcast.

According to the founder of Teraform Labs, the charges against him from the South Korean prosecutor are "unlawful and politically motivated". "Every sovereign country can interpret the red notice however they see fit," Kwon said.

Do Kwon (right) on UnChained Podcast.
Do Kwon (right) on UnChained Podcast.

Last month, South Korean prosecutors said Interpol had issued a red notice for Kwon for allegedly violating the capital markets law. Meanwhile, on the website of the international police agency, there is no order related to CEO 9x. According to Techcrunch, a red notice is submitted to Intelpol by the police agency of a member state and is not required to be publicly displayed on the organization's website. However, international police still exchange information and fulfill arrest requests.

On October 5, South Korea continued to exert pressure by announcing that Kwon's passport would be revoked if he did not return home within two weeks. Today is considered the last day for CEO 9x to present.

In the podcast, Kwon said he hasn't been in Korea for almost a year. "Since the end of last year, I no longer live in Korea. So, it would not be correct to say that I have to return to Korea. Instead, you can ask me if I will travel to Korea or not." Kwon said.

Ms. Shin then asked about the biggest concern of the Terra community right now: Where is Kwon? "I can answer. The thing is, I don't want a lot of people guessing which country or city I live in. If people find out, it makes it harder for me to continue my normal life," he said.

Previously, 9x CEO repeatedly emphasized not to run away but did not disclose specific whereabouts to protect himself and his family. He is believed to have been in Singapore - where Terraform Labs' headquarters are located - before disappearing. His homes in South Korea and Singapore have both been broken into several times. "Every time someone knows where I am, I have to move somewhere else," he said.

Denial of property dispersal

The podcast also mentioned 3,313 Bitcoins that were transferred to the floor by the Luna Foundation Guard (LFG) fund of Terraform Labs for sale earlier this month. “The fact that Bitcoin is transferred to exchanges is not meant for sale in the market,” Kwon emphasized. "We have hired an on-chain data analytics company for a transaction related assessment that will be released soon. This is how we are transparent about allegations of embezzlement or theft. appearing on social media."

Before that, more than 3,000 Bitcoins of LFG were transferred to two major exchanges, KuCoin and OKX. Korean regulators have frozen these assets. “What we do is confirm the transaction with a market maker, then transfer the Bitcoins to an address according to their instructions,” Kwon continued.

9x CEO of Terraform Labs expressed disappointment at the "excessive interest" from the Korean Financial Services Commission (FSC). The agency, he said, has a mandate to make policies and regulations, but "takes risks in enforcing them". He also denied the arrest warrant for violating the capital markets act. He argued that cryptocurrencies like Luna should not be considered a security.

Despite his failures with Luna and UST, Kwon continues to believe the world still needs decentralized currencies. “I really think building decentralized currencies is one of the most important problems crypto has to solve,” he said.

He also called on blockchain developers to learn from their mistakes and continue to strive to create decentralized money that is "stronger, more transparent, and less likely to fail". In addition, he said he is no longer associated with Luna Classic (Lunc), the digital currency renamed from Luna after the mid-year crash.

In May, the crypto community witnessed one of the biggest disasters in history, when both Luna and UST coins lost almost all of their value. In mid-August, Kwon denied the allegations related to the collapse, asserting that the Terra project was not a multi-level fraud scheme. He said he also suffered heavy damage, but it is not clear how much he lost.
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