Earlier this week, Terra founder Do Kwon said that authorities in South Korea haven’t been in touch or filed charges against him. In an interview with crypto media startup Coinage, Kwon was asked if he planned on returning to Korea from Singapore. Responding to the same, the Terra executive said,
“It’s kind of hard to make that decision because we’ve never been in touch with the investigators. They’ve never charged us with anything.”
A new twist to the Terra tale?
However now, per the latest reports, Do Kwon has hired lawyers from a domestic law firm to lay the groundwork for legal action in response to the investigation by the Seoul Southern District Prosecutors’ Office.
The translated version of a recent local media report read,
“He is said to have recently submitted a letter of appointment to an attorney at the Seoul
Southern District Prosecutors’ Office.”
Per the report, the Prosecutors’ Joint Financial and Securities Crime Investigation Team has been conducting investigations and collecting transaction records, and other evidence with respect to the collapse of the Terra ecosystem crash.
“On the 20th of last month, a total of 15 places, including 7 virtual exchanges, Terraform Labs related corporation, and the homes of related people were raided and searched.”
Prosecutors are also reported to have ordered Kwon to notify them whenever he arrives back in Korea. Alongside, they have banned current and former employees of Terraform from leaving the country. However, no arrests have been made yet.
Who is to be blamed?
Kwon has time and again said that he plans to cooperate when the time arrives. In Coinage’s interview when he was questioned about jail time, he exclaimed, “Life is long.”
Commenting on the ecosystem’s collapse, Kwon said that he hadn’t thought about that possibility for even a second. He, however, took the responsibility for the same and asserted,
“But if those opportunities existed, then the blame is on the person that presented those vulnerabilities in the first place… I, and I alone, am responsible for any weaknesses that could have been presented for a short seller to start to take profit.”