Luna Founder Do Kwon Isn’t in Singapore, Police Say After South Korean Court Issues His Arrest Warrant

According to local police, Do Kwon, founder of Terraform Labs is not currently in Singapore. After a court issued him an arrest warrant, he was arrested in South Korea and charged with fraud following the collapse of cryptocurrency terrausd and luna. Kwon insists he isn't "on the run."

Police Say Do Kwon Isn't in Singapore

According to the Singapore Police Force (SPF), Kwon Dohyung, Terraform Labs founder, was not currently in Singapore. The police replied to an AFP inquiry via email:

Do Kwon currently is not in Singapore. SPF will support the Korean National Police Agency (KNPA), within the scope of our domestic legislation as well as international obligations.

Kwon repeatedly stated on Twitter that he was in Singapore. According to Singapore's Straits Times newspaper on December 7, Kwon's work permit in the city state was set to expire.

A spokesperson for South Korean prosecutors stated last week that six people were arrested, including Kwon. He also noted that Terraform Labs founder is based in Singapore. Kwon is being accused of fraud following the collapse of cryptocurrency luna (now known as luna classic (LUNC), and stablecoin terrausd(UST). Kwon is also being accused of fraud after the collapse of the cryptocurrency luna (now called luna classic (LUNC) and stablecoin terrausd (UST). The country's ministry for foreign affairs is reportedly planning on revoking his passport.

The Securities and Exchange Commission (SEC), in the United States, is also reportedly investigating Terraform Labs and UST's collapse. Kwon stated that he was "devastated" by the collapse of his crypto project in a series of interviews.

Kwon shared his thoughts via a series tweets on Saturday. Kwon insists:

I'm not 'on-the-run' or something similar. Any government agency that shows interest in communicating with me, we are fully cooperating and have nothing to hide.

He wrote another tweet, "We are in process of defending ourselves against multiple jurisdictions — We have held ourselves to an extremely low bar of integrity, & look forward to clarifying truth over the coming months,".

Do you believe Do Kwon is running? Comment below to let us know your thoughts.


By: Kevin Helms
Title: Luna Founder Do Kwon Isn’t in Singapore, Police Say After South Korean Court Issues His Arrest Warrant
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Published Date: Mon, 19 Sep 2022 02:00:29 +0000

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