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Do Kwon, co-founder of Terra, states that he is not currently “on the run.”

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The individual behind Terra has stated that he is not hiding in Singapore despite being wanted by South Korean police.

Earlier this week, South Korean prosecutors asked the finance ministry to revoke Do Kwon’s passport and issued an arrest warrant for him.

Kwon co-founded Terra, which collapsed in May. Prosecutors requested the warrant and it was granted.

Kwon’s family and the others searching for him had hoped he would be discovered in Singapore, but on Saturday, the authorities there stated that he had not been located anywhere.

Kwon tweeted Saturday afternoon, “We’re happy to help any government agency that wants to speak to us, and I’m not “on the run” or avoiding police.

We’re preparing our defense in several courts; we’ve always had the highest standards of honesty and integrity. We prepare defenses.”

Kwon allegedly violated financial market standards and faces legal challenges in South Korea and other countries.

The breakdown of the Terra ecosystem pulled down Bitcoin and other cryptocurrencies. Winter froze the bitcoin market.

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