• Two South Korean officials traveled to Serbia to track down Do Kwon, the founder of Terraform Labs.
• Reports emerged in December 2022 that he was hiding in Serbia after fleeing Singapore following Terra’s collapse.
• In September last year, a Seoul court issued a warrant for his arrest and South Korea has been actively seeking his whereabouts since then.
South Korean Officials Travel To Serbia
Two South Korean officials traveled to Serbia last week to track down Do Kwon, the founder of Terraform Labs and LUNA, who has been on the run since a Seoul court issued a warrant for his arrest in September last year. According to a 7 February report published by Bloomberg, the prosecutors‘ office in the South Korean city of Seoul confirmed that a prosecutor and a senior official from the Justice Ministry had visited the Balkan nation.
Do Kwon Flees Singapore
Do Kwon had left his home country and fled to Singapore shortly before his crypto empire came crashing down in May 2022. By September 2022, authorities in Singapore confirmed that Kwon was no longer in the country. It was subsequently reported that he had flown to Dubai before moving to another location.
South Korea Requests Serbian Cooperation
South Korean media reported that intelligence agencies had confirmed Do Kwon’s location in Serbia, with Chosun Media noting that the South Korean Ministry of Justice was requesting cooperation for their investigation from the Serbian government. South Korea does not have an extradition treaty with Serbia, which makes it an ideal place for Kwon to avoid investigation into charges over $60 billion worth of digital assets wiped out as part of Terra’s collapse.
Kwon Defends Himself On Twitter
On 1 February this year, Do Kwon took to Twitter to defend himself against accusations of stealing money and making secret cash-outs. The same month also saw South Korea’s Ministry of Foreign Affairs demand that Do Kwon surrender his passport and law enforcement seek an Interpol red notice against him.
Conclusion
Do Kwon remains at large despite multiple attempts by South Korean authorities over several months now trying to trace him down amid charges over violations of capital market laws and massive losses incurred due to Terra’s collapse.