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Terra CEO Do Kwon, wanted in South Korea, fled Singapore for unknown destinations via Dubai

Kwon Do-hyung, the cofounder and CEO of Terraform Labs Pte. Ltd., also known as Do Kwon, left Singapore last month and arrived in Dubai, United Arab Emirates, according to South Korean prosecutors.

An investigation team is weighing the possibility of Kwon stopping in Dubai, as no records of Kwon’s arrival in the UAE have been found.

Local prosecutors and police have asked neighboring countries to assist in tracking down Kwon.

Kwon’s exact location has been unknown since the Terra-LUNA crash earlier this year in May, with many speculating that he was in Singapore, as that was his last known location.

It’s not in the interest of being on the run … it’s just that every time the location where I live becomes known, it becomes almost impossible for me to live there,

During a recent interview on the Unchained podcast, Kwon stated that he had experienced a breach in personal privacy and security.

Following the collapse of Terra stablecoin and cryptocurrency, which wiped out over US$60 billion in crypto market capitalization, South Korea is investigating Kwon and Terraform Labs associates on multiple charges, including fraud and violation of the Capital Markets Act.

The Seoul Southern District Prosecutors’ Office, which is in charge of the investigation, has issued an arrest warrant, is processing a passport cancellation, and has requested that Interpol issue a “red notice” against Kwon. A red notice requests that global law enforcement locate and arrest a person.

 

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