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Singapore police confirmed on Saturday that Terra founder Do Kwon, who is currently wanted by South Korean police, is no longer in Singapore. Just as people from all walks of life suspected that he was “fleeing in fear of crime” due to his guilty conscience, Do Kwon broke his silence for several days and issued a document denying that he had escaped. As soon as he said it, he was slapped in the face by the South Korean prosecutor.

As recently as Sept. 14, a Seoul court issued arrest warrants for Do Kwon and five others on the main charge of violating the Capital Markets Act, and South Korean prosecutors believed at the time that Do Kwon and other wanted associates were on the premises. Singapore.

However, according to local media reports , a spokesman for the Singapore Police Force said on September 17 that Do Kwon was no longer in the country.

As for Do Kwon’s article, several hours after the local police issued a statement, they posted that “I am not on the run”, but did not disclose where he was. In his post, he noted:

We will fully cooperate with any government agency that is interested in communicating, and we have nothing to hide

In addition, Do Kwon said that while defending himself in multiple jurisdictions, the team upholds a very high standard of integrity and looks forward to clarifying the truth in the coming months.

South Korean prosecutor: Do Kwon ‘apparently on the run’

In response, South Korean prosecutors said on Sunday that Do Kwon was “clearly on the run” by flying to Singapore after disbanding its South Korean subsidiary Terraform Labs Korea in April to “evade investigation”.

Instead of cooperating with prosecutors, Do Kwon told prosecutors through a lawyer in August that he had no intention of appearing in court for questioning, other prosecution sources said.

“Currently, we are looking for the whereabouts of the suspect Do Kwon and arresting him,” a prosecution official said, adding that the prosecution would cooperate with overseas investigative agencies to track down the truth of the case.

Now, South Korean police are planning to issue a “red notice” against Do Kwon through Interpol and revoke his passport. According to policy, if this happens, Do Kwon must return to Seoul within 14 days.

In May of this year, the market witnessed the collapse of the Terra algorithmic stablecoin UST and its sister coin LUNA , triggering a large-scale liquidation in the cryptocurrency market. Tens of billions of dollars were wiped from the market in just a few days, forcing several cryptocurrency companies. Filed for bankruptcy, including high-profile cryptocurrency hedge fund Three Arrows Capital (3AC) .

Since the collapse of the Terra ecosystem, many surprising inside stories have gradually surfaced, and the founder Do Kwon’s dark history has also come to an end. The Korean authorities have expanded their investigation into whether the crash involved illegal acts.

Blocker previously reported that South Korean prosecutors raided and seized the residence of Terra co-founder Daniel Shin and Do Kwon-related company Kernel Labs in July this year.

Do Kwon also said in an interview with the media last month that he was actively cooperating with authorities in the investigation.


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