Following recent news of Terra founder Do Kwon hiding in Dubai, prosecutors have finally zeroed in on his latest location. On October 20, it was reported that Kwon fled for an unknown location via Dubai after initially staying in Singapore. In recent weeks, a team of South Korean investigators have been trying to track his whereabouts in Dubai and adjacent countries. The country’s authorities have issued warrants against him and 5 other Terra executives.
Do Kwon Current Location
In this context, it appears that the prosecutors made significant inroads into the probe into cryptocurrency Terra Luna and its team. Meanwhile, the investigating authorities shared an interesting update on the investigation progress and Do Kwon latest whereabouts. According to a report from Korean news portal Naver, Do Kwon managed to sneak out of Dubai territory to a European country.
According to the report, Do Kwon, who is currently holding an invalid passport, is currently hiding in Europe illegally. Whichever country he is currently in, Kwon is now an illegal immigrant and cannot travel between countries legally, it added. The last time authorities confirmed the Terra founder’s location, he was hiding somewhere in Dubai.
Private Conversation With Terra Employee
Also, the Korean prosecutors have obtained proof of a private conversation between Do Kwon and a Terra employee. The said employee typically takes orders from Kwon which essentially are aimed at manipulating LUNA’s market price. The investigators have reportedly found evidence of Kwon’s attempts at price manipulation. Although no details were revealed, an official from the prosecutors office reportedly said the conversation history “specifically ordered price manipulation.”
On the other side, Do Kwon continues to actively engage with the Terra community through his Twitter account. In a latest tweet, the Terra founder said he was involved in some ‘creative’ work in the last few weeks.
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“Strangely, these last few weeks have been one of the most creative periods of my life.”
Do Kwon also shared an update on Terra Expedition, an ecosystem expansion program. Recently, he was dragged in a lawsuit filed by over 350 Terra investors, who claimed to have lost around $57 million. The lawsuit accused Kwon and Terra staff of intentionally misrepresenting the price stability of the UST stablecoin. The Terra collapse news led to a crypto bloodbath earlier in 2022. Following that in September, South Korean authorities issued an arrest warrant against Do Kwon.
As of writing, the Terra Luna token price stands at $2.37, up 1.39% in the last 24 hours, according to price tracking platform CoinMarketCap. Meanwhile, Terra Classic LUNC price stands at 0.0002209, down 1.03% in the last 24 hours.
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