SEOUL – 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 on Thursday that a report stating 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 (S$85.5 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 has 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, which is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.

A Terraform Labs spokesman declined to comment on Kwon’s movements. Kwon did not reply to a request for comment. BLOOMBERG