Report: As South Korean and Serbian Officials Search for Do Kwon

South Korean authorities are requesting Serbian assistance in arresting Terraform Labs CEO and co-founder Do Kwon.

Last week, a senior member of the Justice Ministry and a team from the prosecutor’s office in Seoul went to Serbia after hearing that Kwon is hiding there.

Kwon is being charged for the collapse of the stablecoin TerraUSD (UST) and the crypto asset Luna, which caused a loss of $60 billion.

The Terra ecosystem imploded when TerraUSD lost its peg to the US dollar, sending the UST and LUNA to zero.

Since South Korean authorities put out a warrant in September, no one knows where Kwon is. Last year, there were rumors that the person who made the crypto is hiding in Dubai.

South Korea took away Kwon’s passport after Interpol put out a red notice asking police all over the world to help find him.

In the middle of the search for him, Kwon says he is not trying to hide. In a tweet from February 1, he also said he hadn’t done anything wrong.

“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.”