Hunt for Do Kwon Intensifies As South Korean Authorities Work With Serbian Officials: Report

Authorities in South Korea are reportedly in search of assist from officers in Serbia to expedite the arrest of embattled Terraform Labs CEO and co-founder Do Kwon.

Based on Bloomberg, a senior Justice Ministry official and a group from the prosecutor’s workplace in Seoul traveled to Serbia final week amid experiences that Kwon is hiding within the Balkan nation.

Kwon faces costs for the $60 billion collapse of the stablecoin TerraUSD (UST) and the crypto asset Luna.

The Terra ecosystem collapsed when TerraUSD misplaced its peg to the US greenback, which resulted in each the UST and LUNA plummeting to basically zero.

Kwon’s whereabouts have been unknown since South Korean authorities issued a warrant in September. Stories surfaced final yr that the crypto developer is hiding in Dubai.

South Korea revoked Kwon’s passport after Interpol issued a pink discover asking legislation enforcement worldwide to assist in the search.

Amid the manhunt, Kwon claims that he’s making zero effort to cover. He additionally denied wrongdoing in a tweet posted on February 1st.

“I discover that Twitter is an effective place for rumors however poor place to get details.

I’ve stolen no cash and by no means had “secret cashouts” – glad to deal with particular allegations.”

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