Officials Chase Hard to Nab Do-Kwon! While the Founder Aims to Build Terra Ecosystem Again!

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The post Officials Chase Hard to Nab Do-Kwon! While the Founder Aims to Build Terra Ecosystem Again! appeared first on Coinpedia Fintech News

The co-founder of Terraform Labs, Do-Kwon is rumored to have fled to Dubai from Singapore a month ago. The South Korean authorities also have not completely rejected the claim and said the report was ‘not false’.

Do-Kwon’s Terraform Labs was shut down after the huge crack-down in May, post to which the South Korean authorities have been chasing him. However, the police soon issued an Interpol notice against the founder as he failed to respond to numerous warrants. However, in an interview with Laura Shin, host of Unchain podcast, Do-Kwon countered all the claims made against him.

In the interview, Do-know answered all the questions about his current whereabouts, the fall of the ecosystem, compensation to the holders, and much more.

Do-Kwon believed that Terra was a ‘massive market failure’ but definitely not a scam or fraud and he still wants to build. When asked about the red notice, he replied by saying that he has made a request to check on the status of it which is still pending. Further replying on not answering the warrant, he said that he has not received any copy of it, but rather accumulated information through the media.

However, in the end, Do-Kwon accepts being very aggressive on Twitter during times of crisis and also apologized for the same.  He believes that it may take a few years to stabilize everything that happened and hence still would be happy to contribute to the crypto space.

Meanwhile, Do-Kwon did not reveal his current location due to security measures as a group of UST holders are trying to track down him. The holders have reportedly formed a group called UST Restitution Group with nearly 4400 investors out of which some have landed in Dubai to find him.

Collectively, people are chasing Do-Kwon along with the authorities, but at the same time, he continues to hide, by not disclosing the location.