He was held responsible for the loss of millions of cryptocurrency users last May. Terra (LUNA) founder Do KwonIt was alleged that he was hiding in Serbia.
Terra Founder Do Kwon Cashed Out Bitcoins In Serbia
According to a South Korean cryptocurrency media outlet, on-chain data shows Terraform Labs founder Do Kwon cashed out 9.64 Bitcoin ($120,000) from the Luna Foundation Guard (LFG) after he recently entered Serbia.
It should be noted that Serbia is a country that does not have an extradition treaty with South Korea.
Bitcoin ATM machines are being set up in places like Belgrade, where Bitcoin can be exchanged for dollars. According to data provided by CoinATMRadar, there are two cryptocurrency banks in Belgrade.
The cryptocurrency market felt shock waves in May as TerraUSD and Luna collapsed to zero and billions of dollars worth of virtual assets evaporated almost overnight. The South Korean criminal has been fleeing to different countries since then.
In September, a South Korean court ordered the arrest of Kwon over allegations of fraud by Terraform Labs investors.
The Seoul Southern District Attorney’s Office has been tracking the bankrupt crypto entrepreneur for months since then. Earlier this month, it was confirmed that Kwon was hiding in Serbia after leaving Dubai in October.
Do Kwon also continues to deny that he is fleeing justice while remaining active on social media. In October, Kwon said he believed the charges against him were politically motivated.
*Not investment advice.
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