Police say wanted crypto developer Do Kwon is not in Singapore

Police say wanted crypto developer Do Kwon is not in Singapore


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SINGAPORE (Reuters) – Singapore police said on Saturday that wanted crypto developer Do Kwon, who was accused by investors of fraud after the collapse of his cryptocurrency Luna and Terradollars, is not currently in town.

Kwon, the lead developer of the cryptocurrency whose shock crash in May caused turmoil in crypto markets around the world, was also the founder of the Terraform Labs blockchain platform, which investors accused of fraud in the wake of the crash.

Last week, a spokesman for South Korean prosecutors said arrest warrants had been issued for six people, including Do Kwon, and that they were residing in Singapore. Read more

The arrest warrant came after months of investigation and amid popular anger in South Korea over the collapse. Globally, investors in the two currencies lost an estimated $42 billion, according to blockchain analytics firm Elliptic.

A statement issued by the Singapore police late Saturday also said it will assist the South Korean police within the scope of their domestic legislation and international obligations.

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Reporting by Chin Lin in Singapore; Editing by Alex Richardson and Clelia Ozil

Our criteria: Thomson Reuters Trust Principles.



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