Soon a year after the collapse of the Terra ecosystem, the Singapore police decided to look into the activities of Terraform Labs. Meanwhile, Do Kwon is still on the loose.
Singapore looks into the Terraform Labs case
It is now ten months since the UST collapsed, becoming the first domino in a long series of bankruptcies, caused by a chain reaction. According to a statement made today to our colleagues at Bloomberg, Singapore police have opened investigations into Terraform Labsthe entity representing the Terra (LUNA) ecosystem.
Unfortunately, the object of these investigations was not detailed.
Nearly a month ago, the Securities and Exchange Commission (SEC) began legal action in the United States against Terraform Labs and its founder Do Kwon, in particular for selling unregistered securities.
While one would have thought that the project would completely sink after the debacle of its “stablecoin”, and the colossal losses suffered by investors, Terraform Labs seems to be holding its own. At the start of the year, recruitment had also resumed, and 21 positions are to be filled when writing these lines, in various fields such as design, legal or programming.
👉 To go further – Back to the collapse of the Terra ecosystem to understand what happened
Do Kwon still on the run
Beyond the investigations, the Singapore police also indicated that Do Kwon was not in the city-state.
To this day, the man is still wanted, since an arrest warrant was issued against him by South Korea last September, and he was placed on the Interpol red list a few weeks later.
In November, Do Kwon allowed himself a provocation by appearing in the Twitch live of the UpOnlyTV channel, run by crypto influencer Cobie, while still wanted. The last elements as to his possible whereabouts date back to December 12, and indicate that he was in Serbia at that time. What is certain is that the official Twitter account of the person concerned has shown no activity since last December 10.
For the moment, it is therefore not certain that Do Kwon will see prison one day and his run must still end. It will only be from there that a real trial can be started, and this could well stretch over several years.
👉 Also in the news – FUD: Tether accuses Wall Street Journal of publishing “totally inaccurate and misleading” report
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