According to Reuters, Terra’s founder, Do Kwon, is reportedly not in Singapore, citing the Singapore Police Force.
According to local media reports, Singapore Police stated that “the wanted crypto developer Do Kwon was not currently in the city-state.”
The Singapore Police promised to assist the South Korean police in its attempt to arrest the embattled founder.
Singapore’s local media reports also confirmed this development.
Earlier in the week, the South Korean government issued an arrest warrant for Kwon, citing a violation of capital market regulations that led to a $40-billion loss for investors.
The arrest warrant is valid for a year. Meanwhile, reports have emerged that South Korea’s Ministry of Foreign Affairs is trying to get Kwon to return his passport.
In his sole interview after the crash, Kwon claimed that South Korean authorities had not contacted him.
The Terra founder has been entangled in several lawsuits in South Korea and the United States from investors who lost heavily to the ecosystem’s crash.
Do Kwon Denies Being “On the Run”
Do Kwon has denied claims that he is on the run in a tweet.
According to Kwon, those who have rights to know his whereabouts are his friends, those he plans to meet or whoever he is “involved in a gps based web3 game.”
Kwon continued that the interest in his location amounts to an invasion of privacy.
I am not “on the
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Celsius Network had filed for bankruptcy following arguably the largest network collapse in the history of crypto. The lending platform had been caught in the crossfire, and further reports showed that it had a $1.2 billion hole in its balance sheet. The company, which has been going through bankruptcy proceedings in the US Bankruptcy Court […]
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On Sunday, the multichain decentralized exchange aggregator Transit Swap suffered an exploit resulting in $23 million losses. But fortunately, the project’s team managed to recover 70% of the stolen funds on the same day with the help of several blockchain security firms, which facilitated the platform immediately after the incident. The blockchain security firms which […]
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The post Here’s Why Shiba Inu Holders May Lose 20%, But There’s A Catch appeared first on CoinGape.
Bitcoin mining GMT Token unveils their new NFT collection called “The Greedy Machines.” NFTs have been around since 2014, but it wasn’t until 2021 that they really started to catch on. Along with other facets of the economy, it turned the world of art upside down. Over the past two years, the NFT landscape has … Continued
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