{"id":560073,"date":"2023-03-06T14:07:10","date_gmt":"2023-03-06T11:07:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/terraform-labs-co-founder-do-kwon-gets-probed-by-singaporean-authorities\/"},"modified":"2023-03-06T14:07:10","modified_gmt":"2023-03-06T11:07:10","slug":"terraform-labs-co-founder-do-kwon-gets-probed-by-singaporean-authorities","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/terraform-labs-co-founder-do-kwon-gets-probed-by-singaporean-authorities\/","title":{"rendered":"# Terraform Labs co-founder Do Kwon gets probed by Singaporean authorities"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2310a02e298\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2310a02e298\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/terraform-labs-co-founder-do-kwon-gets-probed-by-singaporean-authorities\/#%E2%80%9D_Terraform_Labs_co-founder_Do_Kwon_gets_probed_by_Singaporean_authorities_%E2%80%9C\" >&#8221; Terraform Labs co-founder Do Kwon gets probed by Singaporean authorities &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Terraform_Labs_co-founder_Do_Kwon_gets_probed_by_Singaporean_authorities_%E2%80%9C\"><\/span>&#8221; Terraform Labs co-founder Do Kwon gets probed by Singaporean authorities &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvZTRlZTRkNjYtOWM5Mi00ZDZkLTg2M2ItNmUyMDg0NjdhMGFiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Local authorities in Singapore announced they had begun a probe that is connected to Do Kwon\u2019s Terraform Labs.<\/p>\n<p>According to a Bloomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-06\/singapore-police-have-begun-probing-crypto-fugitive-do-kwon-s-terraform-labs?srnd=technology-vp#xj4y7vzkg\">report<\/a>, Singaporean police sent an email on March 6, which said, \u201cinvestigations have commenced in relation to Terraform Labs.\u201d The email also added that the inquiries are \u201congoing,\u201d and Do Kwon is not currently in the city-state.<\/p>\n<p>Last month, on Feb. 16, the United States Securities and Exchange Commission (SEC) accused Do Kwon and Terraform Labs of fraud in a new lawsuit.<\/p>\n<p>Some voices in the crypto space have criticized this lawsuit as a way for the SEC to go after stablecoins with future lawsuits. Lawyers in the industry have even called the SEC\u2019s comparisons of assets \u201cwild.&#8221;<\/p>\n<p>Meanwhile, the SEC probe uncovered that Kwon removed around 10,000 Bitcoin (BTC) from the Terra platform and the Luna Foundation Guard, which he eventually changed into fiat. In total SEC allegations claim Kwon has laundered over $100 million worth of Bitcoin since the initial collapse of the platform.<\/p>\n<p>At the time of writing, Do Kwon has made no comment. The Terraform Labs co-founder has been active on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> throughout the entire scandal. However, he has not tweeted since the beginning of February.<\/p>\n<p> <strong><em><u>Related: <\/u><\/em><\/strong><strong><em>Gary Gensler\u2019s SEC is playing a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>, but not the one you think<\/em><\/strong><\/p>\n<p>This entire saga has its roots back in May 2022 when the stablecoin UST dropped from its peg to the U.S. dollar. This caused the price to collapse to zero, which subsequently caused a major implosion in the digital asset market with a loss of nearly $40 billion.<\/p>\n<p>Terraform Labs has also been under investigation by authorities in South Korea, where a warrant was out for Kwon\u2019s arrest. South Korean police <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>ed to Serbia in their efforts to locate Kwon.\u00a0<\/p>\n<p>On Feb. 15, South Korean prosecutors requested a warrant for the arrest of a local e-commerce executive who they accused of accepting LUNA for promoting Terra Labs.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/terraform-labs-co-founder-do-kwon-gets-probed-by-singaporean-authorities\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Terraform Labs co-founder Do Kwon gets probed by Singaporean authorities &#8220; Local authorities in Singapore announced they had begun a probe that is connected to Do Kwon\u2019s Terraform Labs. According to a Bloomberg report, Singaporean police sent an email on March 6, which said, \u201cinvestigations have commenced in relation to Terraform Labs.\u201d The email&#8230;<\/p>\n","protected":false},"author":1,"featured_media":560074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/e4ee4d66-9c92-4d6d-863b-6e208467a0ab.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,122378,73157,12115,70934,5012],"class_list":["post-560073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-terra","tag-investigation","tag-police","tag-regulation","tag-singapore"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=560073"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/560074"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=560073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=560073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=560073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}