Founder of the Terra ecosystem Do Kwonclaimed that the authorities in South Korea had never contacted him and/or brought any charges against him. In an interview with crypto media outlet Coinage, Kwon also answered the question whether he plans to return to Korea from Singapore.
“This decision is a bit difficult to make because we have never had any contact with the investigators. They never accused us of anything.”
Adding a New Chapter to Terra Events?
According to recent reports, Do Kwon began hiring lawyers from a local law firm to lay the groundwork for legal action in response to the investigation by the Seoul Southern District Procuratorate.
A translated version of a recent local media report contains these words:
“There are rumors that he recently presented an appointment letter to a lawyer at the Seoul Southern District Procuratorate.”
According to the report, the Prosecutors’ Joint Financial and Securities Crimes Investigation Team, terra It conducts investigations into the collapse of ecosystem collapse and continues to collect transaction records and other evidence.
On July 20, a total of 15 sites were raided and searched, including 7 virtual exchanges, companies related to Terraform Labs and the homes of relevant persons.”
Prosecutors also reportedly ordered Kwon to notify them when he returned to South Korea. It was also forbidden for current and former employees of Terraform to leave the country. However, no arrests have been made yet.
Kwon still has time and has reiterated that he plans to collaborate when the time comes. When questioned about his prison sentence in an interview with Coinage, he replied, “Life is long.”
Commenting on the collapse in the ecosystem, the founder also stated that he never thought about this possibility, but he also took responsibility for it.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.