Terra founder and CEO Do KwonQuestions remain about where he is. According to South Korean officials, Kwon left Singapore and went to Serbia.
According to a report shared by Chosun Media, South Korean authorities gathered intelligence about Do Kwon. According to the intelligence in question, Kwon is currently in Serbia.
The report also stated that South Korea’s Ministry of Finance is “in the process of requesting cooperation from the government of Serbia” as part of the investigation.
Koinfinans.com As we previously reported TerraForm Labs It went bankrupt with the collapse of LUNA-UST in May 2022. Do Kwon, 31, had left the country for Singapore shortly before the collapse.
In September, the Seoul Southern District Procuratorate accused Do Kwon of “violating capital market laws” and issued an arrest warrant. As a matter of fact, after this arrest warrant, Singaporean authorities confirmed that Kwon was not in the country. Allegedly, Kwon fled to Dubai in search of a new country.
Interpol, on the other hand, stepped in after the arrest warrant and issued a ‘red notice’. However, Kwon is still not registered in the red notice database.
Terra Founder in Serbia
In addition to the red notice, South Korean authorities ordered Do Kwon to hand over his passport to squash. It was also warned that if the passport is not delivered, it will be completely canceled.
As a result, Do Kwon continues to hide and change countries. According to the latest information, Kwon is currently in Serbia and Korean officials have confirmed this intelligence.
Although South Korea has signed extradition agreements with 31 different countries, Serbia is not on this list. As a matter of fact, there are different extradition treaties involving Serbia. Therefore, the authorities will try all means legally.
Kwon argued that he “did not run” and “made no effort to hide”. He has been active on social media for the past few months.
The collapse of the Terra ecosystem in May was triggered by the depreciation of the algorithmic stablecoin Terra USD Classic, UST. This in turn dropped its sibling entity, Luna Classic, LUNA by almost 100%.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.