The investigation officers of the Terra project case denied the claims made by the Terra founder Do Kwon.
Do Kwon is the Founder of Terraform Labs, which launched the Terra blockchain with two native tokens Luna & UST stablecoin. Under the extreme market volatility in May of this year, the value of both of the crypto assets plunged badly and the price touched around $0.
Just a few days ago, Do Kwon informed his followers on Twitter that he is not “on the run” and he is cooperating with all those Government agencies, which are approaching.
On 18 September, Korean media outlet Yonhap reported that South Korean prosecutors confirmed that Terra founder Kwon who is associated with a platform’s demise is not cooperating with the government agencies and also “he is on the run”.
Seoul Southern District Prosecutor’s Office reportedly stated:
“We have begun the procedure to place him on the Interpol red notice list and revoke his passport.”
According to the available information on the official website of Interpol, a red notice is issued for fugitives facing prosecution or sentence. Under the issued order of Interpol, all the enforcement agencies of any country are allowed to take action on Do Kwon, detain & sentence to jail or proceed with the pending cases against him.
An official for the office said:
“He is clearly on the run as his company’s key finance people also left for the same country during that time.”
LUNC price action
Luna classic (LUNC) is actually Terra (Luna), which was later renamed LUNC after the collapse of the old Luna coin. The current price of LUNC is $0.0003054 and this price is 174% high over the last 30 days’ trade price.