Do Kwon Hiding in Serbia: Korean Media

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Do Kwon, the co-founder of Terraform Labs, is reportedly in Serbia, according to South Korean media. Since the Terra ecosystem’s collapse, the contentious crypto figure has been on the run amid numerous inquiries and legal actions.

According to South Korean prosecutors, Kwon traveled from Singapore to Serbia through Dubai. The former Terra boss was said to be in Dubai earlier this year, according to reports.

Reports also show that the South Korean Ministry of Justice is requesting the Serbian government’s assistance in the matter. Despite not having an extradition agreement, Serbia and South Korea both joined the European Convention on Extradition.

Additionally, Kwon’s passport has been declared invalid, making travel virtually impossible. However, there’s a possibility that he’s already entered a neighboring nation.

Kwon is allegedly fleeing to evade the inquiry, according to the prosecution. However, the erstwhile Terra boss has tweeted that he is not evading the authorities. Kwon was given an arrest warrant by authorities, which prompted Interpol to issue a red notice.

Two of the key industry events in 2022 are the demise of Terraform Labs and Kwon’s standing. The other is that FTX failed, and American officials are looking into whether Sam Bankman-Fried was responsible for Terra’s catastrophe. If it were unequivocally established, it would combine two of the most important events in the market’s recent history, making it a seismic event.

Kwon himself attributed the failure to SBF and Genesis Trading. On December 8, he tweeted many times with the phrase “what’s done in darkness will come to light.”

Terra Community Moving on Without Do Kwon

The Terra Classic Community has kept up its attempts to rehabilitate the ecosystem as detectives hunt out the former Terra CEO. The idea to split Terraform Labs and Kwon was put to the people in the community for a vote.

The community seemed to be adamant that moving on with the project without Kwon would be advantageous for all involved.

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.