South Korean a delegation of officials, crypto fugitive of Do Kwon last week to ask for help in his capture. to Serbia gone.
South Korean Officials Pursuing Crypto Fugitive Do Kwon Traveled To Serbia Last Week
The prosecutor and the Ministry of Justice official went to Serbia last week. Kwon is blamed for the $60 billion loss of the crypto project.
The prosecutor’s office in Seoul said on Tuesday that reports that one of its team had visited the Balkan country with a senior Justice Ministry official were “not wrong”.
In December, Serbia emerged as a potential destination for Kwon, a 31-year-old entrepreneur who faces charges in his native South Korea for the $60 billion devaluation of the digital assets he produces.
Kwon developed the TerraUSD stablecoin, which should have a fixed $1 dollar value through a mix of algorithms and investor incentives involving its sister token, Luna.
The structure exploded in May 2022, exacerbating a $2 trillion crypto market crash and contributing to the collapse of a number of digital asset institutions.
Kwon’s whereabouts became unclear in September last year after authorities issued an arrest warrant over allegations, including violations of capital markets law.
South Korea took away Kwon’s passport and said Kwon was the subject of Interpol’s red notice.
Kwon resurfaced on Twitter a few days ago after a weeks-long hiatus that led to speculation about his whereabouts.
I find that Twitter is a good place for rumors but poor place to get facts
I’ve stolen no money and never had “secret cashouts” – happy to address specific
In any case, good day to you
— Do Kwon 🌕 (@stablekwon) February 1, 2023
Kwon tweeted that he “never stole money and never made ‘secret withdrawals’”. He has previously denied any misconduct.
The prosecution and the Ministry of Justice declined to comment on Kwon’s exact location on Tuesday.
Last year, officials said Kwon flew to Dubai, possibly to an unknown destination, after leaving Singapore, where the Terraform Labs project’s base is located.
*Not investment advice.
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