Kevin Helms
A student of Austrian economics, 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.
Luna founder Do Kwon is not 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 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 that 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 Korean National Police Agency (KNPA) within the framework of our national legislation and international obligations.
Kwon has repeatedly indicated on Twitter that he has been in Singapore. According to Singapore’s Straits Times newspaper, his work permit in the city-state was set to expire on December 7.
Last week, a spokesperson for South Korean prosecutors said arrest warrants had been issued for six people, including Kwon, noting that the Terraform Labs founder lives in Singapore. Kwon is accused of fraud following the collapse of the cryptocurrency luna (now called luna classic (LUNC)) and stablecoin terausd (UST). In addition, the country’s Ministry of Foreign Affairs plans to revoke his passport.
In the US, the Securities and Exchange Commission (SEC) is also investigating Terraform Labs and the collapse of stablecoin UST. In a few recent interviews, Kwon said he was “devastated” when his crypto project collapsed.
On Saturday, Kwon explained his situation in a series of tweets. He insisted:
I am not “on the run” or anything like that – for any government agencies that have shown interest in communicating, we are fully cooperating and have nothing to hide.
“We are in the process of defending ourselves 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.
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