Singapore police say wanted cryptocurrency developer Do Kwon not living in S Korea

Singapore Police Force said on Saturday that the wanted developer Do Kwon, who was accused of fraud by investors after the collapse of his cryptocurrencies Luna and TerraUSD, is not currently in the city-state.

Kwon, the primary developer of the two cryptocurrencies whose spectacular collapse in May roiled criptocurrencies markets around the world, was also the founder of the Terraform Labs, which has been accused of fraud by investors in the wake of the collapse.

A South Korean prosecutors spokesman said last week that arrest warrants had been issued for six people, including Do Kwon, and that they were residing in Singapore.

The arrest order came after months of investigation and public outrage in South Korea over the collapse. According to Elliptic, investors in the two coins lost an estimated $42 billion.

A statement from the Singapore police late on Saturday said they would assist the South Korean police within the ambit of its domestic legislation and international obligations.