About US$40 billion of investors’ money was wiped out following the crash of Terraform Labs. — AFP pic
Sunday, 18 Sep 2022 7:44 AM MYT
SINGAPORE, Sept 18 — Do Kwon, the South Korean founder of the failed cryptocurrency Terra, is not in Singapore as had been believed, the city-state’s police said late yesterday, raising questions about his whereabouts.
About US$40 billion of investors’ money was wiped out following the crash of Terraform Labs this year, and a South Korean court on Wednesday issued an arrest warrant for Kwon.
The 31-year-old was earlier believed to be in Singapore, where last month he gave his first media interview since the crypto operator folded in May.
But late Saturday, the Singapore Police Force (SPF) said in an email response to an AFP query that “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,” said the brief statement, which gave no further details.
Singapore’s Straits Times newspaper has reported that Kwon’s work permit in the city-state was due to expire on December 7.
The newspaper said Kwon has apparently applied to renew his pass, but moves by South Korean authorities to invalidate his passport may have jeopardised the renewal.
Arrest warrants have also been issued by South Korean prosecutors for five other people — who were not named — linked to stablecoin TerraUSD and its sister token Luna.
Kwon’s Terra/Luna…
