According to the findings, South Korean officials have issued an arrest warrant for the Terra founder, who eventually issued a statement claiming he was working with several global consumer advocates. Additionally, Singapore officials said Kwon does not reside in the town, despite previous reports that he was there.
South Korean officials had issued a detention warrant for the much-maligned crypto company founder earlier this week, and later it emerged that several investigators had requested that his passport be revoked.
Bloomberg reported that the Seoul grand jury memo cited a warrant approving the arrest of Do Kwon and five others for violating financial market regulations. According to a different local document, Interpol needed to get involved because Kwon currently lives in Singapore. The document also specifically mentioned five other individuals associated with Terra, including TFL co-founder Nicholas Platias and employee Han Mo.
This latest news comes a day after South Korean investigators launched a new investigation into Terraform Labs to determine whether its native token constitutes a security. As previously reported, LUNA or UST was once one of the top ten most valuable digital currencies by market cap. Their decline not only wiped out approximately $50-60 billion in market value, but also led to the downfall of several companies including Celsius, Voyager, 3AC, and others.
Not in Singapore
The consensus in the cryptocurrency community is that Kwon is hiding somewhere in Singapore. According to Reuters, the city's police department denied these speculations. They claimed that Kwon did not live in the metropolis, but promised to help Korean colleagues find him. Kwon remained largely silent on mainstream social media after the Terra incident, and only made a statement on Saturday evening.
Singapore law enforcement authorities said in a statement late Saturday that they would assist South Korean authorities in accordance with domestic laws and international commitments.
He claimed that only certain people had the right to inquire and know his whereabouts. Moreover, he asserted that he was not on the run or anything like that and was defending himself in various jurisdictions with his team.
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