Luna founder Do Kwon is not in Singapore, police say after South Korean court issues warrant for his arrest – Featured Bitcoin News

Luna founder Do Kwon is not in Singapore, police say after South Korean court issues warrant for his arrest – Featured Bitcoin News

Terraform Labs founder Do Kwon is not in Singapore, local police say. Accused of fraud following 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 “on the run.”

Police say Do Kwon is not in Singapore

The Singapore Police Force (SPF) reportedly said on Saturday that Terraform Labs founder Kwon Do-hyung, also known as Do Kwon, is currently not in the city-state. In an emailed response to an AFP inquiry, police said:

Do Kwon is currently not in Singapore. The SPF will assist the Korea National Police Agency (KNPA) within our domestic legislation and international obligations.

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

Last week, a spokesman for South Korean prosecutors said arrest warrants were 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 cryptocurrency luna (now called luna classic (LUNC)) and stablecoin terrausd (UST). In addition, the country’s Ministry of Foreign Affairs is also reportedly planning revoke his passport.

In the US, the Securities and Exchange Commission (SEC) is said to be. exploring Terraform Labs and the collapse of stablecoin UST. In a few recent ones interviewsKwon said he was “devastated” when his crypto project failed.

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

I’m not ‘on the run’ or anything like that — for any government agency that has shown interest in communicating, we are in full cooperation and have nothing to hide.

“We are in the process of defending in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity and look forward to clarifying the truth over the next few months,” he wrote in another tweet.

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

Luna founder Do Kwon is not in Singapore, police say after South Korean court issues warrant for his arrest – Featured Bitcoin News

Kevin Helms

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




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