Singapore’s Police Are Investigating Do Kwon
The police in Singapore have launched an investigation into Terraform Labs (TFL) and its CEO, Do Kwon, Bloomberg has reported citing the mailing list.
Do Kwon’s exact location is unknown, but the South Korean prosecutor’s office has previously reported that he was hiding in Serbia.
This news has had a major impact on the Terra ecosystem, causing significant damage to major industry players such as crypto lending platform Celsius and hedge fund Three Arrows Capital, as well as Anchor Protocol users through the depreciation of LUNA and the algorithmic stablecoin UST.
South Korean regulators have taken note of the situation and the Seoul Southern District Prosecutor’s Office issued an arrest warrant for Do Kwon and five others in September 2022.
Do Kwon has maintained that he is not “on the run,” and Interpol has issued a “red notice” for his detention.
