Terra founder and Fugitive Do Kwon is in Serbia
According to the latest developments, Terra founder Do Kwon, a crypto fugitive, has moved to Serbia in response to the latest investigation by South Korean officials.
Do Kwon has been hiding since the May 2022 collapse of Terra’s ecosystem. Kwon was believed to have been in Singapore before the South Korean authorities intensified their investigation.
The authorities in South Korea have requested the cooperation of the Serbian government. According to the Chosun IIba paper, Do Kwon is currently in the landlocked Balkan nation.
According to Yonhap, Kwon was reported to have moved to Serbia last month by an unnamed official from Seoul’s prosecutors’ offices.
The May 2022 collapse of Terra’s ecosystem sent shockwaves through the crypto space. Terra’s native stablecoin TerraUSD(UST) lost its peg with the U.S. dollar, which led to further liquidations of Terra’s native cryptocurrency LUNA.
Terra founders The Run
Do Kwon was a resident of Singapore from at least mid-September 2022, when South Korea issued Do Kwon an arrest warrant on charges of violating capital-markets laws. Interpol issued a red notice to Do Kwon, indicating that Terra founder Terra has been on the run.
Do Kwon, 31, has denied any wrongdoing in relation to Terraform Labs and argued that crypto tokens are not covered by capital-markets legislation.
Kwon’s exact location is unknown but Terra founder, Terra, has been posting on Twitter. Kwon made a series of claims about the Terra-LUNA fallout and blamed Genesis and SBF.
He believes that Genesis Global, a crypto lender, provided $1 billion in UST stablecoin to SBF as ammo for TerraUSD’s peg attack. This seems to be a blame game at the moment and there is no concrete evidence.
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