Terraform Labs founder Do Kwon is not in Singapore, local police said. Accused of fraud after the collapse of cryptocurrencies luna and terrausd, he is wanted in South Korea after a court issued an arrest warrant for him. However, Kwon insists he is not “at large.”
Police said Do Kwon is no longer in Singapore.
The Singapore Police Force (SPF) said Saturday that Kwon Do Hyun, aka Do Kwon, founder of Terraform Labs, is not currently in the city, police said in an email response to AFP’s inquiry.
Do Kwon is not currently in Singapore; the SPF will assist the Korean National Police Agency (KNPA) within the scope of domestic law and international obligations.
Kwon has repeatedly indicated on Twitter that he is in Singapore. According to Singapore’s Straits Times newspaper, his work permit in the city was scheduled to expire on December 7.
Last week, a spokesman for South Korean prosecutors said that arrest warrants had been issued for six people, including Kwon, noting that the founder of Terraform Labs resides in Singapore. kwon is a member of the cryptocurrency luna, now called luna classic (LUNC) and stable coin terrausd (UST), and has been charged with fraud following its collapse. In addition, the country’s Foreign Ministry reportedly plans to revoke his passport.
In the United States, the Securities and Exchange Commission (SEC) is also reportedly investigating Terraform Labs and the collapse of the stablecoin UST. In several recent interviews, Kwon said he was “devastated” when his crypto project collapsed.
On Saturday, Kwon described his situation in a series of tweets. He claimed:
I am not “on the run” or anything like that. We are cooperating fully with any government agency that has expressed interest in our communications and we have nothing to hide.
“We are in the process of defending ourselves in multiple jurisdictions – we are holding a very high bar of integrity and look forward to revealing the truth in the coming months,” he wrote in another tweet.
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