South Korean Authorities Searched for Do Kwon in Serbia (Report)

A group of South Korean officials reportedly arrived in Serbia last week to look for the infamous Do Kwon.

The 31-year-old has been on the run since the collapse of his blockchain protocol Terra. The latter’s native token – LUNA – and algorithmic stablecoin – UST – plunged to essentially zero last year, affecting numerous investors and the entire cryptocurrency market.

  • As covered by Bloomberg, a team of South Korean authorities, along with a senior Justice Ministry official, visited the Balkan country a week ago after arising rumors that Do Kwon is hiding there. 
  • The prosecutors’ office in Seoul later said the reports that Terra’s Co-Founder could be hiding there “aren’t false.” 
  • Kwon’s whereabouts have been a mystery during the past several months, with Dubai, Singapore, Mauritius, and Seychelles being some of the possible destinations.
  • The South Korean Ministry of Justice issued a notice upon arrival to him last summer, alleging he had a connection to Terra’s fallout. The event prompted significant financial losses to multiple investors, and some even committed suicide.
  • The global organization that fights international crime – Interpol – also joined the hunt, ordering a red notice on him in September. This requires law enforcement agents worldwide to collaborate and arrest the fugitive should they detect him.
  • Kwon, who has recently kept a low profile on Twitter, promised to reveal his whereabouts in November. He even said police officers are welcome to attend the meetup.
  • Nonetheless, he has still not shed any details.

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