Officials From South Korea Went To Serbia To Look For Do Kwon
South Korean officials have asked the Serbian government for help in the past to bring Kwon back.
Do Kwon, the controversial founder of the now-defunct Terra ecosystem, is still on the run. According to reports, South Korean officials have sent at least two people to Serbia to find him.
The prosecutor’s office in Seoul said the reports about members of its team going to the Balkan state to find Kwon “aren’t false.”
At least two government officials, one from the prosecutor’s office and the other from South Korea’s Justice Ministry, seem to have gone.
On December 11, a state intelligence officer notified South Korean Chosun Media that Kwon had moved to Serbia.
At the moment, there is no treaty between South Korea and Serbia about extradition.
Minso Kim, South Korean journalist for Chosun Media, wrote that Serbia was likely an excellent spot for Kwon to hide.
Kwon’s passport has been confiscated by South Korea, which may make future travel difficult.
Since South Korean prosecutors issued an arrest warrant for Kwon on September 14, he is said to have been on the run. In October, he denied this claim.
The failed entrepreneur, who is 31 years old, has also been accused of breaking laws about capital markets.
Kwon is known for tweeting a lot, but he hasn’t tweeted or retweeted a single post in almost two months. This has led some to wonder what the controversial figure has been up to.
Kwon denied stealing money or having “secret cashouts” in response to an inflammatory tweet.
I find that Twitter is a good place for rumors but poor place to get facts
I've stolen no money and never had "secret cashouts" – happy to address specific allegations
The Terra ecosystem fell apart in part because its algorithmic stablecoin, UST, was no longer tied to the TerraClassicUSD (USTC). Terra Classic (LUNC) was closely tied to the stablecoin, which also fell close to 100%.
Value worth about $60 billion was taken out of the ecosystem.
