Business In News
- A Reuters report citing Singapore Police claims that Terraform Labs founder Do Kwon is not in Singapore
- Do Kwon is currently being pursued by South Korean judicial authorities.
A Reuters report citing Singapore Police claims that Terraform Labs founder Do Kwon is currently not in Singapore.
Where is Do Kwon?
A recent Twitter update citing Reuters claims that Terraform Labs founder Do Kwon is currently not in Singapore. The Reuters report cites Singapore police as its source claiming that Do Kwon is not in Singapore as presumed earlier by authorities.
The Seoul District Court had earlier issued a warrant against the Luna crypto founder on September 14. The South Korean prosecutors are actively pursuing the case, accusing Do Kwon of allegedly conducting fraud and deception concerning the recent Luna crypto collapse. In addition to this, the authorities had recently submitted a request to the South Korean Ministry of Foreign Affairs urging the organization to suspend the passport of Do Kwon, who was earlier presumed to have been living in Singapore.
“Last week, a spokesperson for South Korean prosecutors said arrest warrants had been issued for six people, including Do Kwon, who was currently residing in Singapore.” Reuters later adds.
However, the “most wanted crypto developer,” was not found in the city-state,” the Singaporean authorities confirmed on Saturday
In addition, the statement further adds that the authorities will be assisting South Korean police within the “ambit of its domestic legislation and international obligations.” to help find Do Kwon’s whereabouts. It is to be noted that Do Kwon’s official Twitter account lists Singapore as his current residence.
Dubbed as one of the worst crypto crashes of all time, the Luna crypto crash of May resulted in a loss of nearly $42 billion worth of investors’ money. The collapse was massive in terms of funds and assets, which ultimately landed Luna crypto founder Do Kwon in a hoard of legal trouble. After the crash, Kwon was embroiled in multiple legal cases which actively accused the Terraform Labs founder of allegedly conducting fraud and deceptive crypto practices.