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

Terraform Labs founder Do Kwon is not in Singapore, local police said. Alleged fraud following the crash of cryptocurrencies luna and terrausd, he is wanted in South Korea after a court issued a warrant for his arrest. However, Kwon insists that he is not “running away”.

Police say Do Kwon is not in Singapore

The Singapore Police Force (SPF) said on Saturday that the founder of Terraform Labs, Kwon Do-hyung, also known as Do Kwon, is not currently in the city. In an email responding to the AFP investigation, police said:

Do Kwon is not currently in Singapore. SPF will support the Korea National Police Agency (KNPA) within the scope of our domestic laws and international obligations.

Kwon has repeatedly said on Twitter that he was in Singapore. According to Singapore’s Straits Times, his work permit in the city-state will expire on December 7.

Last week, a spokesman for Korean prosecutors said arrest warrant was issued to six people, including Kwon, noting that the founder of Terraform Labs lives in Singapore. Kwon was accused of fraud following the collapse of cryptocurrencies luna (now known as luna classic (LUNC)) and stablecoin terrausd (UST). In addition, the country’s Ministry of Foreign Affairs is said to have a plan recall your passport.

In the United States, the Securities and Exchange Commission (SEC) is also reported as investigate Terraform Labs and the demise of the UST stablecoin. In the last few days interviewKwon said he was “devastated” when his crypto project collapsed.

On Saturday, Kwon explained his situation in a series of tweets. He is adamant:

I’m not ‘on the run’ or anything like that – to any government agency that shows an interest to communicate, we are fully cooperative and we have nothing to hide.

“We are in the process of defending ourselves in many jurisdictions – we have maintained an extremely high level of integrity and look forward to unraveling the truth over the next few months,” he wrote in a statement. other tweets.

Do you think Do Kwon is on the run? Let us know in the comments section below.

Kevin Helms

An Austrian Economics student, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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