Terraform says South Korea’s Do Kwon arrest warrant is ‘unfair’

So a Terraform spokesman claimed the failed LUNA crypto asset was not a security, so South Korea’s capital-markets law did not cover it.

To be precise the statement is:

“We believe, as do most in industry, that Luna Classic is not, and has never been, a security, despite any changes in interpretation that Korean financial officials may have recently adopted.”

Do these people really believe they can avoid a punishment by saying it's not security? Why are they refusing to disclose Do Kwon’s location then if it’s not a security in their opinion?