Do Kwon, the founding father of failed crypto venture Terra, the chief of failing crypto venture Luna 2.0, and man hiding from his native nation’s prosecutors for alleged violations of monetary securities legislation, is—all in all—“a little disappointed” in the best way issues are going for him. 

On the latest episode of the Unchained Podcast launched Tuesday, Laura Shin talked to Kwon extensively about allegations of fraud towards his firm in addition to what the Terra Labs founder has been as much as since South Korean legislation enforcement put a warrant out for his arrest. In September, prosecutors put a discover out for Kwon in addition to 5 different high staff of his Singapore-based firm for alleged violations of the nation’s Capital Markets Act. Kwon, a local of South Korea, has prevented giving any trace of the place he’s at the moment residing.

Kwon even claimed that he hasn’t truly seen the arrest warrant, although Shin factors out the prosecutors posted a PDF of the warrant on-line since they haven’t been in a position to hand ship it. The crypto founder then went on to say the CMA fees are usually not “applicable,” the allegations towards him are “politically motivated” and any fees centered across the CMA are usually not “legitimate.”

“We are a little bit disappointed with the way prosecutors are attempting to create new regulation through criminal enforcement proceedings,” Kwon informed the podcast host. “Whereas that should really be in the job description of the legislature or at the very least the financial regulators.”

As a fast reminder, Do Kwon is CEO of Terraform Labs, the corporate behind the Terra and Luna crypto ecosystem that collapsed in spectacular vogue again in May as soon as the Terra stablecoin turned “depegged” from the value of the U.S. greenback. This set off a cascading impact all through the whole lot of the crypto ecosystem and has been one of many important causes for the continuing “crypto winter” the place the value of cash stay far decrease than 2021 highs.

Shin explicitly requested Kwon if he was nonetheless in Singapore, the nation state the place his firm Terra Labs relies. The Terra founder mentioned “it’s not in the interest of being on the run to not disclose where I live.” So far Kwon has evaded the police. Terra Labs had beforehand vacated their South Korea places of work shortly earlier than the collapse of the Terra Luna ecosystem. Kwon additional mentioned “the easier that I make it for people to figure out my location, the harder it is for me to continue regular life.”

When Shin requested Kwon why he hasn’t “returned to South Korea” after Seoul prosecutors put out a warrant for his arrest, Kwon tried to keep away from the query saying he hasn’t been residing in South Korea just lately, “so it wouldn’t be accurate to say ‘returning to South Korea.’” Kwon is a South Korean native, and up till just lately had no less than owned a house within the nation.

For these unable to sit down by way of the total interview, Shin put up a couple of highlights to her Twitter.

Interpol has since been drafted into the seek for the person who’s clearly avoiding arrest whereas nonetheless claiming he’s “not on the run” and is “making zero effort to hide.” South Korean prosecutors requested the worldwide legislation enforcement physique to concern a so-called “red notice” towards Kwon, principally placing a goal on the crypto founder’s head for any worldwide police pressure. Still, the crypto founder mentioned he’s seeking to attraction that pink discover. Korean officers have additionally tried revoking Kwon’s passport.

Being on the run hasn’t stopped him from working his famed Twitter account. While retweeting a couple of different accounts sponsoring new initiatives primarily based on his inane try to revitalize Terra together with his Luna 2.0, he additionally supplied some current commentary on his pariah standing. After South Korean prosecutors froze almost $40 million in crypto ostensibly owned by Kwon, the failed crypto founder wrote “It’s no surprise that crypto is most popular in countries that weaponize state institutions against their own people for political gain.”

Kwon tried to wriggle out of the subject, saying “every sovereign nation can interpret a red notice.” As far as violating the Capital Markets Act, Kwon additional tries to disclaim any wrongdoing by claiming “cryptocurrencies are not securities,” so he’s not liable to that legislation or the nation’s monetary crimes division. Kwon had beforehand informed The Korea Times he would cooperate with the investigation, however he claimed within the interview that whereas he’s complying with prosecutors’ doc requests, he’s nonetheless refusing to current his bodily kind to any police physique.