Do Kwon is denying reports he is on the run
The founder of Terraform Labs denied reports he is on the run from South Korean authorities.
It follows an international arrest warrant being issued for the cryptocurrency executive
Kwon’s company was behind the algorithmic stablecoin terra and its sister token luna, which collapsed in value from around $60 billion to nearly nothing in May.
The collapse of these tokens caused a ripple effect throughout the cryptocurrency industry, with those exposed to terra and luna, including Three Arrows Capital, feeling the pain.
Kwon insists that he is not fleeing from authorities and is cooperating with investigators.
Some analysts say this case highlights the risks associated with investing in cryptocurrency.
