Authorities in Singapore have kickstarted a probe into Terraform Labs, founded by crypto fugitive Do Kwon.
The Singapore police force has commenced investigations in relation to Terraform Labs, according to a «Bloomberg» report citing an emailed statement.
The statement noted that inquiries are still «ongoing» and that Kwon is not currently in the city-state.
US, South Korea
Kwon is facing pressure from multiple jurisdictions, including the US where the Securities and Exchange Commission accused him and Terraform Labs of fraud last month. He also faces charges in South Korea which has issued a warrant for his arrest.
Kwon’s whereabouts are unknown with a December 2022 report claiming that he was staying in Serbia.
