Do Quon said he is not on the run after being suspected of hiding in Singapore.

Following the revelations that South Korean authorities had issued an arrest warrant for Terra’s founder, he confirmed the statement in collaboration with several international consumer advocates. In addition, the Singaporean authorities stated that Kwon does not live in the city, despite previous reports that he was there.

Earlier this week, South Korean authorities issued an arrest warrant for the founder of a disgraced crypto corporation. It was later learned that several investigators requested that the passport be revoked.

Citing a memo from a Seoul grand jury, Bloomberg reported that warrants had been issued against Do Kwon and five others for violating financial market regulations. According to another domestic document, Kwon is currently living in Singapore, so Interpol should intervene. He also cited the other five Terra-related individuals, TFL co-founder Nicholas Platias and employee Han Mon.

This new update comes after South Korean investigators opened a new investigation into Terraform Labs to confirm whether the country’s gems are safe. As previously reported, LUNA or UST was once among the ten most valuable digital currencies in terms of market capitalization. Their failure not only resulted in the loss of approximately $50-60 billion in market capitalization, but also brought down several companies including Celsius, Voyager, 3AC and others.

Not in Singapore

The consensus in the virtual currency crowd is that Kwon was buzzing somewhere in Singapore. According to Reuters, the city’s police department denied these speculations. They revealed that Kwon does not live in the Metropolitan, but promised to help their Korean colleagues find him. Kwon, who has been mostly silent on social media following the Terra debacle, finally spoke out on Saturday night.

Singaporean law enforcement officers said in a statement late Saturday that they would assist South Korean authorities in accordance with domestic laws and international commitments.

He He said he deserved it. Only certain individuals have the right to inquire and learn about his whereabouts. He further asserted that he is not on the run or anything like that as some have speculated and that he and his team are in the process of defending themselves in various hearings.

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