Terra’s private investors begin their search for TFL CEO Do Kwon
The members of the UST Restitution group have called Russia, among others, as a possible location for the founder of Terraform Labs
20.10.2022 - 09:40
816
2 min
0
What’s new? After Interpol issued a Red Notice against Terraform Labs (TFL) founder and CEO Do Kwon, and South Korean prosecutors issued a warrant for his arrest and froze about $40 million worth of crypto assets of the company, retail investors of the Terra blockchain ecosystem decided to make their own efforts to track down Kwon, the Financial Times reports.
What else is known? About 4400 investors, who became victims of the collapse of Terra (now Terra Classic) of $40 billion, plan to independently track down Kwon, who is hiding from justice. They formed the UST Restitution Group to coordinate their efforts, with the first step being a trip to Dubai, where the TFL founder is believed to be hiding. Among other possible jurisdictions, group members call Azerbaijan, Russia, Mauritius, and Seychelles.
Representatives of TFL called the case against Kwon politically motivated and illegal. Kwon also said that he had nothing to do with the crypto assets frozen on Kucoin and OKX exchanges. He also denied accusations of non-cooperation from South Korean prosecutors before being put on the international wanted list, stating that he is not “on the run” or trying to hide, and law enforcement officials simply made no attempt to contact him.
About the TFL situation. Almost immediately after the warrant for Kwon’s arrest was issued, $65,8 million in bitcoins was transferred to the Kucoin and OKX platforms from the Luna Foundation Guard’s wallet, created on the Binance exchange, Subsequently, most of the assets were frozen.
Later, representatives of the Terra Classic community created a petition demanding the listing of the LUNC token on the US crypto exchange Coinbase. Investors of the project claim that the asset is quickly recovering its position. At the moment it has been signed by 3623 people.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 178
BTC
-0.1%
-
Ethereum
$3 387.58
ETH
-0.8%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.46
XRP
+0.95%
-
Dogecoin
$0.42544
DOGE
-1.93%
-
Cardano
$1.05
ADA
-0.73%
-
Stellar XLM
$0.524994
XLM
-6.31%
-
Polkadot
$9.03
DOT
+0.02%
-
Bitcoin Cash
$512.4
BCH
+0.12%
-
Litecoin
$96.87
LTC
-3.53%