Singapore begins investigation of Do Kwon’s Terraform Labs

Singapore authorities confirmed that Do Kwon – the most wanted character is not present in this island nation.

Singapore begins investigation of Do Kwon’s Terraform Labs

According to BloombergSingapore police have begun an investigation regarding Terraform Labs – the organization behind the collapsed algorithmic stablecoin UST in May 2022 via an email dated March 6.

Last month, The US Securities and Exchange Commission (SEC) has charged Terraform and its co-founder Do Kwon conspiracies to deceive investors, use of crypto assets and securities, resulting in The collapse event caused a loss of 40 billion USD.

The SEC also accused Do Kwon and Terraform Labs extracted 10,000 Bitcoins from Luna Foundation Guardsecretly transferred this money to a Swiss bank to sell for cash and “pocket”.

Meanwhile, Do Kwon – the main character is being bullied Korea and wanted international policefled for nearly a year to Singapore last April, before arriving Dubai and then Serbiathe last place where he can be found, though once asserted “not running away”.

However, up to now, the Singapore police have confirmed that the founder of Terra is not present in this country, after intensively searching. Recently, there are rumors that CEO Terraform Labs is about to “re-export” the crypto market with a series of new projects.

During the search for Kwon’s “mysterious” whereabouts, many accomplices fell into the sights of the authorities. In November 2022, Korean prosecutors applied for an arrest warrant for Terraform Labs co-founder Daniel Shin. A month earlier, Yoo Mo – sales leader of Terraform Labs and Do Kwon’s “right hand” also received the same decision, but the arrest warrant was dismissed less than 48 hours after it was issued. .

The collapse of TerraUSD last year has left unpredictable consequences for the entire crypto industry to date. Despite being wanted, Do Kwon is still quite “calm” and often active on his Twitter, the CEO’s last tweet was on February 1. At the time of writing the article, Mr. Kwon has not made any new comments.

Synthetic Kyptos

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img