Terra founder Do Kwon, who was previously reportedly in hiding in Singapore, left the country via Dubai to an unknown location. South Korean prosecutors have reportedly revealed that Do Kwon left Singapore last month and landed in Dubai, United Arab Emirates (UAE). The research team is currently tracking his whereabouts in Dubai and neighboring countries.

South Korean prosecutors follow Do Kwon to Dubai

Singapore police have previously confirmed that Do Kwon left the country before South Korea issued arrest warrants against him and 5 other Terra executives. South Korea’s prosecutors later requested Interpol to issue a “red notice” against Terra founder Do Kwon. Now the founder of Terra is reportedly a wanted fugitive in 195 countries.

South Korean prosecutors and Interpol have reportedly tracked Do Kwon to Dubai, according to Chosun Biz on Oct. 20. Prosecutors believe Do Kwon left Singapore a month ago and landed in Dubai. While investigators look for access at UAE airports, the team has yet to find any evidence. Meanwhile, authorities and police have requested other countries near Dubai to track his whereabouts.

The Seoul Prosecutor’s Office in the South District and Interpol are currently monitoring his location. However, authorities have not yet been able to locate him.

During a recent Unchained interview, Do Kwon revealed that he has no intention of returning to South Korea as his passport is declared invalid. In addition, he reiterated his statement that “he is not on the run” and is cooperating with the authorities. However, Do Kwon confirmed that he has not seen any warrants or documents related to the Interpol red message.

Terra founder Do Kwon is active on Twitter, alleging that prosecutors are spreading misinformation about him. While Do Kwon regrets the $60 billion loss to Terra investors, he denied most of the allegations during the recent interview. In addition, he revealed that the compensation previously promised by him and Luna Foundation Guard (LFG) is unlikely to happen anytime soon.

Impact on Terra (LUNA) Price

South Korean prosecutors’ escalating action against Terra founder Do Kwon impacted Terra’s (LUNA) prices. South Korea is investigating Terra executives on charges of Capital Markets Act violations, fraud and money laundering.

LUNA price is trading at $2.44, down nearly 2% in the past 24 hours. Meanwhile, Do Kwon has denied working on Terra Classic, he is still influencing the LUNC award. The LUNC price is trading at $0,00025, up nearly 2% in the past 24 hours.

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a significant period of time and is currently covering all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.



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