Terra’s Do Kwon Apologizes To LUNA Victims, Insists He Is Not On The Run

Terraform Labs co-founder Do Kwon has insisted that he is not on the run despite a red Notice being issued against him by Interpol.

Speaking during an interview with Laura Shin of the “Unchained Podcast” Tuesday, Kwon, who declined to state his exact location citing security reasons, clarified that he moved to Singapore before the Terra collapse, which saw roughly $60 billion evaporate in May. “There’s no reason why any government official would believe we fled to Singapore,” Kwon said. “I don’t know if they intended to mislead or if it was a simple mistake, but there’s just simply too many things that are not true that are coming from the Korean side.”

He went on to clarify that none of his assets or those of LFG (Luna Foundation Guard) had been frozen by crypto exchanges OKX and Kucoin. Following the issuance of an arrest warrant against Kwon on Sept 14, the two exchanges reportedly froze some 3,313 bitcoin worth roughly $67million received from addresses connected to LFG, following a request by Korean authorities. Kwon had refuted the reports in a tweet, responding again on Tuesday that if indeed such an amount was frozen, “he would definitely have noticed.”

“There have been allegations that we moved LFG (Luna Foundation Guard) funds into a Gemini custody wallet and that it’s sitting there or something like that but All we did was to confirm a trade with a market maker and transfer the Bitcoin to an address on the market maker’s instruction,” he continued.

Kwon’s apology to Terra Victims

The catastrophic collapse of the Terra ecosystem led to widespread financial and emotional damage for developers and investors, with some individuals reportedly committing suicide for losing their life savings.

“Oh yes, I am sorry,” Kwon responded when pressed to apologize to the victims by Shin. ”It could seem with the way that we’ve been responding to allegations and news reports that we are being defensive but that is absolutely not the case.” 

The controversial developer went on to state that he, too, had believed in the stability of UST and understood that his beliefs and statements about how stable and safe UST was had led many to gain confidence in a system that ultimately failed. “I do apologize and own up to the full responsibility of that,” he went on.

Kwon concluded by apologizing to crypto Twitter for “shitposting” when Terra was on the upswing, stating that he “got too much carried away” interacting with other people on crypto Twitter. “The industry lingo for this is called shitposting..so I think in retrospect I should have held myself to a more stringent standard.”