Do Kwon left Singapore, said not to run away

 Police announced that Do Kwon was no longer in Singapore, while "father" Luna said he was not on the run, but refused to reveal his current whereabouts.


On September 17, Singapore police said that Do Kwon, CEO of Terraform Labs, is no longer in the country. A few hours later, Do Kwon took to Twitter to confirm that he had no intention of fleeing and was willing to cooperate with the authorities.

Previously, on September 14, the Seoul, South Korean court's prosecutor's office issued an arrest warrant for Terraform Labs CEO and five others to investigate the Luna cryptocurrency disaster. At that time, 9x CEO was completely silent, and many sources said he was in Singapore.

"I'll let you know what I'm doing, where I'm going if we're friends, willing to meet and join in a GPS-based Web3 game. Otherwise, there's nothing for us to do. face," Kwon wrote on his personal Twitter.

In the following tweets, "father" Luna confirmed that she was not running away and had nothing to hide. However, they have to defend themselves in many countries and look forward to clearing things up in the next few months.

CEO Do Kwon at Terra Singapore office in mid-August. Photo: Coinage
CEO Do Kwon at Terra Singapore office in mid-August. Photo: Coinage

The South Korean prosecutor's office is also seeking permission from the Ministry of Foreign Affairs to revoke Kwon's passport. If approved, CEO 9x must return to Seoul within 14 days. Bloomberg quoted Singapore police as saying it would assist South Korea "within the scope of national law and international obligations". Some sources said that the move of the Korean authorities is to shed light on the issues surrounding the collapse of two tokens in the Terra ecosystem, Luna and UST.

In May, the crypto community witnessed one of the biggest disasters in history, when both the Luna and UST coins lost almost all of their value. Information collected by Digital Today (Korea) from the Supreme Court office of this country shows that Terraform Labs decided to dissolve the Korean branch after a board meeting from April 30. This is considered unusual behavior right before the Luna incident took place.

The Luna crash then triggered a series of investigations in both the US and South Korea. In July, South Korean prosecutors raided the home of Daniel Shin, co-founder of Terraform Labs, to gather evidence. Company employees are also not allowed to leave the country until the investigation is complete.

Since Kwon has always denied the allegations related to the collapse, asserting that the Terra project is not a multi-level fraud scheme. He confirmed he was also suffering heavy losses and did not know how much money he lost.

When asked about the possibility of going to prison in the future, Kwon was not too afraid. "Life is long," said the 9x CEO.

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