A report revealed the expected location of the Terra founder is somewhere in Europe.
Dow Kwon is the Founder of Terraform labs. Kwon launched the Terra blockchain with the help of Terraform Labs. LUNC & TerraUSD were two native tokens of the Terra blockchain network and both of these tokens were integrated via a protocol system. The design of the LUNC & TerraUSD backed-end protocol was to maintain the value of each TerraUSD equal to $1 but the whole protocol model failed in May of this year, during a high volatility situation in the crypto market.
On 3 November, the South Korean publication KBS reported that Do Kwon is now living in Europe at an unknown location and probably he fled to that place before the passport was invalidated.
Korea’s Seoul’s foreign ministry ordered Terra founder to submit back his password to the respective department and also warned that if he will not follow the order then the government will invalidate his password & also will file capital markets law violation charges against him & his team Terraform Labs. But probably Kwon fled to Europe via Dubai, just before the passport was invalidated.
TerraFatMan, an insider informer of TerraForm Labs, informed the crypto community that recently Kwon talked with his employees to manipulate the price of the new Luna coin.
Yesterday, Do Kwon said that he is doing huge hard work these days.
Today he openly announced that he will hold a conference against all those people who are spreading misinformation about him.
Last month, Kwon said that he was not on run , instead he was cooperating with all those Government agencies which were approaching to talk on the matter of the old Terra project collapse.