Crypto News

Singapore Police Investigate Terraform Labs and Fugitive Founder Do Kwon

Singapore Authorities Launch Investigation into Terraform Labs and Its Fugitive Founder

The founder of Terraform Labs, Do Kwon, is on the run, and his woes seem to be deepening. The Singapore Police have launched an investigation into Terraform Labs, a Singapore-registered company, and its founder.

The police have confirmed that the inquiry is ongoing, and investigations have commenced in relation to Terraform Labs. However, Kwon’s location remains unknown, with reports indicating that he is hiding in Serbia.

Kwon is facing allegations from regulatory authorities worldwide, with the US Securities and Exchange Commission (SEC) charging him with orchestrating a multi-billion dollar crypto asset securities fraud. Interpol has also issued a red notice for his arrest, making him an international wanted person.

The collapse of Terraform Labs in May 2022 triggered a crypto winter that wiped off more than $1.5 trillion in market capitalization. Seoul police have also issued an arrest warrant against Kwon, and he has been missing since September.

The ongoing investigation by the Singapore Police is a significant development in the case against Kwon and Terraform Labs. It remains to be seen what the outcome of the inquiry will be and how it will impact the wider crypto community.

The news of the investigation also underscores the need for regulatory authorities worldwide to remain vigilant and take swift action against fraudulent activities in the crypto space. This will help protect investors and promote the growth of a sustainable and trustworthy crypto ecosystem.


Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry. She is passionate about helping to foster the growth of the industry and believes in the power of blockchain technology to revolutionize the world.