Sep 06, 202519021 Views
Sep 06, 2025
according to Singapore media, Terraform Labs co-founder Do Kwon had set his sights on a top-floor luxury apartment on Orchard Road, Singapore, worth 38.8 million Singapore dollars five months before the collapse of the cryptocurrency he launched, and paid approximately 19.4 million Singapore dollars (50% of the purchase price) for the option fee and subsequent payments, only for the deal to fall through. It is reported that after Do Kwon got into trouble, the property developer confiscated this huge sum of money. South Korean national Do Kwon believes that the confiscated amount should be deemed invalid, so he instructed his wife to seek redress from the Singapore High Court. However, the fund recovery has been rejected by Singapore High Court judge Philip Jeyaretnam. In addition, Do Kwon and Luna Foundation Guard were sued by 366 investors in the Singapore International Commercial Court in May this year, facing claims of approximately 66 to 90 million US dollars.
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