Luna Founder Do Kwon Isn’t in Singapore, Police Say After South Korean Court Issues His Arrest Warrant – Kwon Do-hyung, better known as Do Kwon, the founder of Terraform Labs, is reportedly not currently present in the city-state, according to a report from the Singapore police force (SPF) on Saturday.
The police stated in an email response to an inquiry from the AFP: “Do Kwon is currently not in Singapore. SPF will assist the Korean National Police Agency (KNPA) within the ambit of our domestic legislation and international obligations.”
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Kwon has frequently mentioned being in Singapore on Twitter. His employment permit in the city-state of Singapore was set to expire on December 7, according to the Straits Times newspaper in Singapore.
Kwon is one of the six suspects for whom arrest warrants have been filed, according to a South Korean prosecutor’s official who noted that Kwon lives in Singapore last week. Following the demise of the stablecoin terrausd and cryptocurrency luna (now known as luna classic (LUNC)), Kwon is accused of fraud. The country’s ministry of foreign affairs apparently intends to withdraw his passport as well.
The Securities and Exchange Commission (SEC) in the United States is allegedly looking into Terraform Labs and the demise of stablecoin UST. Kwon claimed he was “devastated” when his cryptocurrency scheme failed in a few recent interviews.
On Saturday, Kwon explained his situation in a series of tweets. He insisted: “I am not ‘on the run’ or anything similar — for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide.”
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“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.
