Terraform Labs, which has only been in the news in recent times with its collapse, have become the new favorite of Singapore police with its co-founder Do Kwon.
Do Kwon’s Terraform Labs is Now Under Scrutiny by Singapore
The most recent event occurred not long after Terraform Labs and CEO Kwon were charged with securities fraud by the U.S. Securities and Exchange Commission (SEC) in February 2023. According to a March 6 news report, the Singapore police announced in an email that they would start investigating Terraform Labs. However, no information about the investigation was leaked.
South Korean Officials and Do Kwon
Following the collapse of the Terra ecosystem, South Korean authorities launched several thorough investigations into and took out enforcement measures against Terraform Labs, its workers, and Kwon.
Kwon is said to be on the run, therefore South Korea has been attempting to find him. The co-founder of Terraform Labs was the target of a warrant of arrest issued by the nation’s prosecutors in September 2022. However, he later claimed that he was not hiding. By December 2022, authorities were on their way to Serbia to apprehend Kwon. However, Kwon was not in the city-state, according to a Singaporean police email sent in the meantime.
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