Do Kwon Slips Away: Singapore Police Report He’s Out of Town
On Saturday morning, the Singapore Police Force confirmed that Do Kwon, the crypto mastermind behind the meteoric rise—and equally dramatic tumble—of Luna and TerraUSD, is not currently in the city‑state.
Who’s Do Kwon?
Kwon was the brains behind the two coins that caused a global crypto frenzy in May. He also founded Terraform Labs, a riddle‑shrouded blockchain platform that recently faced a flood of fraud accusations from distraught investors.
The Singapore Twist
Last week, South Korean prosecutors issued arrest warrants for six individuals, Do Kwon among them, claiming they were residing in Singapore. The warrant came after months of sleuthing and a wave of public fury in Seoul.
Late Saturday, the Singapore police released a statement saying they would co‑operate with Korean law‑enforcement as long as it fits within local laws and international agreements.
How Bad Was the Crash?
- Investors lost an estimated $42 billion (or S$59 billion) in the two coins, according to analytics firm Elliptic.
Heads‑Up, Guys
While the headlines keep hissing about Kwon’s disappearance, the police are on the payroll of international attention. Should the big brother of Luna make his next move, keep your eyes peeled. In the wild world of crypto, the only certainty is that nothing stays put—which might be exactly why the authorities are looking for him in another jurisdiction.
