South Korea says report Do Kwon transited via Dubai ‘not false’

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SOME light has been shed on crypto fugitive Do Kwon's travel after South Korea sought his arrest and his location became a mystery.

Prosecutors in Seoul said in a text message late Thursday (Oct 20) that a report Kwon had left Singapore and flown to Dubai likely as a stopover to destinations unknown "was not false".

Kwon's Terraform Labs crypto project suffered a US$60 billion implosion in May, convulsing the digital-asset sector and saddling investors with losses. He faces charges in South Korea, including accusations of breaching capital-markets law.

Kwon, who has denied wrongdoing, refrained from revealing his whereabouts in a podcast earlier this week, citing threats he's received.

His location became unclear in September after officials said he was no longer in Singapore, where his project had a base. South Korea says Kwon is the subject of an Interpol red notice.

A Terraform Labs spokesperson declined to comment on his movements. Kwon didn't reply to a request for comment. BLOOMBERG



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