Terra cofounder Do Kwon is the one who is pumping Bitcoin

[bbc.reporter]

News update.

It appears that there are 2 government regulators that have an arrest warrant for Do Kwon hehehe. Terra Luna might also be recorded in the crypto history books as the biggest ponzi schemes of the cryptospace. This is much bigger than Bitconnect.

How much was Bitconnect's highest market capitalization? Luna might have been more than 50 times bigger, I reckon.



South Korean court issued an arrest warrant for Do Kwon, CEO of Terraform Labs, four months after the collapse of the Terra ecosystem, its native luna token and its TerraUSD algorithmic stablecoin — which together wiped out some $40 billion in value.

Chosun Ilbo, a South Korean newspaper, was first to report the news. The warrant was issued by the Seoul Southern District Prosecutors' Office's Joint Investigation Team on Financial Securities Crimes (led by director Dan Sung-han) and 2nd Division of Financial Investigation (led by chief prosecutor Chae Hee-man), according to the report.

Kwon is currently believed to reside in Singapore, per the report, which stated that there have also been warrants issued for the arrest of Nicholas Platias, another of Terraform Labs’ founders, and Han Mo, another employee. They are charged with violating the Capital Markets Act.

Source https://www.theblock.co/post/169825/south-korean-court-issues-warrant-for-do-kwons-arrest

I'm very curious how this will turn out.  I'm not sure there's evidence this was an actual Ponzi from the start, but I haven't cared much about the saga other than that I was saying how stupid it was for him to telegraph his buys like that, but now I see that he was doing it on purpose to pump Bitcoin for himself to get rich and then dump on everyone.  I'm not sure that's illegal though, but maybe we'll find out why soon enough.  It looks like they've taken his passport now to try and stop him from fleeing the country.  I'm sort of surprised he isn't already on a beach somewhere getting plastic surgery and a new identity, but maybe he is.  This is the most interesting case since Razzlekhan.  

There might be arguments for both it is a ponzi and it is not a ponzi. If argued as a ponzi, the Lunatics can also argue that much of the coins in the cryptospace is a ponzi because to get value from your coins, you should sell it to someone who is willing to buy it from you with a higher price.

However, the other platform those Luna developers created was the ponzi. It was called Anchor and it offered 20% yield.

[Daltonik]

Anyway, apparently the prosecutor's office in South Korea has sufficient grounds to arrest Do Kwon, because before the collapse of Luna, someone threw off a bag for several hundred million dollars and it could well have been him, but it could also have been someone else, nevertheless binance is still not making bad money on Terra.

[bbc.reporter]

@Daltonik. Agreed and it appears that Do Kwon is on the run according to South Korea's prosecutors. He will become the honorary third arrow in 3 Arrows Capital hehehe. The founders Su Zhu and Kyle Davies are also on the run hehehe.



South Korean prosecutors have refuted Do Kwon's claim from over the weekend that he is not on the run and asked Interpol to issue a red notice against the Terraform Labs' co-founder, escalating the public drama playing following the $40 billion wipeout on his cryptocurrency startup in May this year.

Source https://finance.yahoo.com/news/south-korean-prosecutors-kwon-obviously-081340428.html



This is Do Kwon's tweet before he accused of being on the run.



I am not “on the run” or anything similar - for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide

Source https://twitter.com/stablekwon/status/1571197156907679745

[OgNasty]

Looks like Interpol has put out a Red Notice for Do Kwon. Not good. Unless he’s on an island somewhere getting plastic surgery, I have a feeling he’s going to be seeing the inside of a jail cell before long. Crazy that he did have bad intentions with this, probably from the beginning. I think the banks that helped orchestrate the fall should be looked at as well.

[Daltonik]

Looks like Interpol has put out a Red Notice for Do Kwon. Not good. Unless he’s on an island somewhere getting plastic surgery, I have a feeling he’s going to be seeing the inside of a jail cell before long. Crazy that he did have bad intentions with this, probably from the beginning. I think the banks that helped orchestrate the fall should be looked at as well.

Yes, the South Korean authorities report that the co-founder of Terraform Labs Do Kwon has been issued a red notice by Interpol (now law enforcement agencies of 165 countries must detain and arrest Do Kwon), as reported by Bloomberg, but so far the Do Kwon card is not on the Interpol website.

Source: https://www.bloomberg.com/news/articles/2022-09-26/south-korea-says-interpol-issued-red-notice-for-terra-s-do-kwon?leadSource=uverify%20wall
Archive: https://archive.ph/Yn74b#selection-3743.0-3745.19

[bbc.reporter]

Is Do Kwon really in hiding? I checked his twitter account and it appears that he has made some replies 8 hours ago unless he has a friend who is tweeting these replies for him hehehe.

https://twitter.com/stablekwon/with_replies

In any case, after the collapse and the dump, I am not quite certain why LUNA remains to be listed in the biggest and most trusted exchanges in the cryptospace.

[$anounimus$]

According to 3 Arrows Capital's cofounder Kyle Davis, Terra is using $125 million a day to buy bitcoin. I am not certain if this is the real buy strategy or if this is only his assumption.

Yes, it looks like Do Kwon also has a hand in this, but It may not be the ultimate investment, but in my view, investing in bitcoin is a great way to diversify your portfolio. While this digital coin is notoriously volatile, BTC has several unique characteristics that make it potentially profitable for savvy investors and is considered a new asset class, along with stocks, bonds, commodities, and all other investment classes. This means bitcoin can be used to diversify investments in traditional portfolios.

[Daltonik]

It is reported that 3313 BTC that are associated with LFG started moving immediately after the request of the South Korean authorities made through Interpol for the arrest of Do Kwon, with Binance they were moved to KuCoin and OKX, writes coindesk Korea.

https://www.coindeskkorea.com/news/articleView.html?idxno=81514

[laurenB7742]

It is reported that 3313 BTC that are associated with LFG started moving immediately after the request of the South Korean authorities made through Interpol for the arrest of Do Kwon, with Binance they were moved to KuCoin and OKX, writes coindesk Korea.

https://www.coindeskkorea.com/news/articleView.html?idxno=81514

Dokwon repeatedly insists he is not guilty, he is also a victim of Luna's downfall, he is willing to cooperate with the police to investigate the cause of Luna's death. But since the Korean government announced to summon him and until they issued an arrest warrant, he remained tight-lipped, refused to reveal his whereabouts and did not want to go back to Korea to confront him. Until today finally received a red notice for him, to see how long he can hide, he still uses Twitter to joke with people.

[savetheFORUM]

Looks like Interpol has put out a Red Notice for Do Kwon. Not good. Unless he’s on an island somewhere getting plastic surgery, I have a feeling he’s going to be seeing the inside of a jail cell before long. Crazy that he did have bad intentions with this, probably from the beginning. I think the banks that helped orchestrate the fall should be looked at as well.

It's crazy if he will undergo a plastic surgery only to escape this issue he have been involved at but with all of the money he stole I think that is possible although authorities aren't going to stop as long as they hunt him down. They will do anything they can as long as they can serve justice to those who got scammed big time.

Before kwon begins this project, he already have a bad intention because he is also involved on another scam project on the past but I don't know why he isn't arrested? Maybe the scammed amount isn't that huge as what they got in their luna project but despite of that, they are still not contented but they also create a second version of luna to scam more money.

[OgNasty]

It is reported that 3313 BTC that are associated with LFG started moving immediately after the request of the South Korean authorities made through Interpol for the arrest of Do Kwon, with Binance they were moved to KuCoin and OKX, writes coindesk Korea.

https://www.coindeskkorea.com/news/articleView.html?idxno=81514

Crazy that he's still moving so much money even while the law closes in on him.  You'd think the nearly billion dollars he already shwindled would be enough for him.  This can't make regulators or the police happy that he's seemingly giving them the finger while they try their best to track him down.  When they finally do catch up with him, it's not going to be fun for him.  I imagine there will be consequences for avoiding arrest that he's not going to like.  It will be somewhat interesting to see if they're able to recover any of this BTC and if anything will ever end up going to his victims.  I suspet not.

[bbc.reporter]

It is reported that 3313 BTC that are associated with LFG started moving immediately after the request of the South Korean authorities made through Interpol for the arrest of Do Kwon, with Binance they were moved to KuCoin and OKX, writes coindesk Korea.

https://www.coindeskkorea.com/news/articleView.html?idxno=81514

They have 3313 coins after the failure of Luna? Why did they not use this to defend the peg? CZ tweeted that if Do Kwon and his team sold some of their bitcoins from the treasury and defended the peg much earlier when UST began falling to $0.97 or $0.98, the failure would not have occured and they would have saved the project. We can only speculate on his argument if it is right, however.

[Daltonik]

The South Korean authorities have already appealed to the Kucoin and OKX exchanges with a request to freeze 3313 BTC, which, according to their information, may be associated with the co-founder of LFG Do Kwon. It remains to wait for the reaction of the Kucoin and OKX exchanges to this appeal, I think it will be satisfied.

Source: https://cointelegraph.com/news/report-korean-authorities-orders-freeze-of-67m-of-bitcoin-tied-to-do-kwon

[bbc.reporter]

I do not know how Do Kwon can make these types of replies in social media if he is in a red notice list by interpol and if the government is really looking for him. Him being in hiding and not cooperating might only be another exaggeration from mainstream media, Do Kwon has become crazy or he hired someone to use his social media accounts hehe.

[TravelMug]

^^ I might be wrong, but I thought that he is on the custody of the South Korean regulator? If not then clearly he is on the run already and we don't know if he is going to surface and face everything in the court.

And him answering his social media could be taunting the government and everyone doing the investigation. Unless the authorities goes to the media and present him again so that we will get some assurance or at least his victim will not feel that they have been abandoned or something.

[Daltonik]

Terraform Labs believes that the South Korean prosecutor's office exceeded the limits of its authority in relation to issuing an arrest warrant for the co-founder of the firm Do Kwon. The representative of the company also refused to name the location of Do Kwon, citing the ever-present constant danger to him and his family.

Source: https://www.coindesk.com/business/2022/09/28/terraform-labs-calls-korean-authorities-arrest-warrant-for-do-kwon-overreach-report/
Archive wsj: https://archive.ph/MFJlS

As they say, the defendant has money and apparently not small money, so it remains only to monitor the development of events.

[stompix]

I do not know how Do Kwon can make these types of replies in social media if he is in a red notice list by interpol and if the government is really looking for him.

There is no Interpol red notice for him:
https://www.interpol.int/How-we-work/Notices/View-Red-Notices

It's either that the SK police haven't issued an international arrest but a local one or they haven't yet notified Interpol about this, after all the proof about the notice is from journalist claiming this has happened without any link to an official source.

[erep]

I do not know how Do Kwon can make these types of replies in social media if he is in a red notice list by interpol and if the government is really looking for him. Him being in hiding and not cooperating might only be another exaggeration from mainstream media, Do Kwon has become crazy or he hired someone to use his social media accounts hehe.

I am also surprised that he is not in a state of distress with interpol red notices that will arrest him anytime in any country, even though he is only actively commenting and not updating his latest tweets, but I believe he is still managing his own account and will not allow anyone to use his account. I believe he is hiding to cover up his true condition under pressure to be arrested and will be tried in court.

[bbc.reporter]

I do not know how Do Kwon can make these types of replies in social media if he is in a red notice list by interpol and if the government is really looking for him.

There is no Interpol red notice for him:
https://www.interpol.int/How-we-work/Notices/View-Red-Notices

It's either that the SK police haven't issued an international arrest but a local one or they haven't yet notified Interpol about this, after all the proof about the notice is from journalist claiming this has happened without any link to an official source.

Yes it is beginning to appear that everything in the news that was published recently were exaggerations of the truth and it appears Do Kwon is laughing at everything with this comedy show from the Korean government. Do Kwon is also presently in Singapore. I am not certain if there extradition agreements between South Korea and Singapore. There might not be anything. This is why Do Kwon is walking in the mall to have lunch with Eric Wall hehehehehe.

[stompix]

Do Kwon is also presently in Singapore. I am not certain if there extradition agreements between South Korea and Singapore. There might not be anything.

There is no direct extradition treaty between the two countries but that just means that there is no automatic process, any country will extradite someone if it feels like doing so even if they don't have a treaty.
Probably that's what the SK government is doing rather than placing him on the Interpol list for real, but if negotiations fell they can cancel his passport and from there either Singapore will shield him based on ... god knows what or they will kick him out of the country. And that's the moment he will have to choose a destination where the police won't arrest him at the checking out based on the Interpol warrant.

From my point of view he is just stupid, he could have gotten away with a few months in prison and a fine and some assets gone but doing this he risks up to 10 years in prison and no judge will show clemency with that much media pressure. Plus, once on the Interpol list good luck trying to keep your assets, and good luck with corrupt officials that will shield you not to grab everything you have.
He should have learned from Mark Karpeles how it's done.