Singapore authorities confirm that cryptocurrency developer Luna has left the country

On Saturday evening, Singapore police confirmed that Terraform Labs founder Do Kwon, who is wanted by South Korean authorities, is outside the state border.

Nevertheless, the Singapore police are ready to assist South Korea «within the framework of domestic law and international obligations.» On Wednesday, a South Korean court issued an arrest warrant for Do Kwon. It has taken 4 months since the collapse of the Terra cryptocurrency ecosystem, its native Luna token, and the algorithmic stablecoin TerraUSD (UST), which caused investors around the world to lose more than $ 40 billion. The media have repeatedly published information about suicides caused by the Terra collapse. Ukrainians are among the victims.

On Thursday, the South Korean prosecutor’s office asked the Ministry of Foreign Affairs to revoke his passport. However, by that time, Do Kwon had already left Singapore. It was believed that Do Kwon’s current location was Singapore. The founder of Terraform Labs himself remains active on Twitter and states that he is not trying to evade cooperation with law enforcement.