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Prosecutors: We Have Proof Do Kwon ‘Ordered Crypto Price Manipulation’

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Source: Screenshot/Terra/YouTube

South Korean prosecutors say they have evidence that proves the missing Terraform Labs Co-founder Do Kwon told an employee to manipulate coin prices. But Kwon has suggested that he is ready to hold a “meetup,” with “cops from all over the world welcome” to attend.

Reports from the South Korean national broadcaster KBS and the nation’s biggest newspaper Chosun Ilbo explained that the Seoul Southern District Prosecutors’ Joint Financial and Securities Crime Investigation Team has unearthed a “message-based” “conversation between Kwon and an unnamed Terraform “employee.”

Terra Luna Classic prices on November 4. (Source: CoinMarketCap) 

An official from the Prosecutor’s Office was quoted as stating:

“I cannot reveal the details, but this was a conversation whereby CEO Kwon specifically ordered the manipulation of prices.”

The media outlets did not state what coin was allegedly being referred to in the conversation.

Did Do Kwon Order Crypto Price Manipulation?

The prosecution referred to the communication platform as “secure” – suggesting it may have been an encrypted chat app.

Prosecutors further believe that Kwon is now based somewhere in Europe. And the nation’s foreign ministry has now voided his passport, after a lengthy protocol was completed. This means, KBS explained, that Kwon is “now an illegal immigrant, wherever he is” and he “cannot travel legally between countries.”

Kwon has been issued with an arrest warrant and an Interpol Red Notice. The latter is a call on police officers in Interpol member nations to detain a suspect. South Korean authorities now believe that Kwon traveled to Europe from Dubai.

Do Kwon: Claims I Am in Hiding Are BS

Kwon, however, has remained defiant on social media. In addition to the criminal case being brought against him, he will also need to content with a number of civil cases being prepared by lawyers representing disgruntled groups of investors.

The Terraform chief has previously claimed he is not “in hiding” or “on the run” – despite the South Korean prosecution’s claims otherwise.

He took to Twitter to “invite” all-comers to a forthcoming “meetup.”

He added:

“For those of you that have been spreading falsehood on the [taxpayer’s] dime, you are invited with VIP honors – will even pay for your plane ticket. Show up if you dare.”

He even apparently mocked the notion of the police attending his “meetup” – tweeting a toy gun emoji and the text “pew pew.”

Kwon added that individuals had “made up” “complete bullshit” about him “for political reasons” and would “claim sovereign immunity” if their claims were proven to be untrue.