With South Korean officials, the search for Do Kwon has become more intense. Officials from South Korea apparently verified that they sent at least two persons to Serbia to find him.
The Seoul prosecutor’s office claimed that a team was traveling to the Balkan state to look for Kwon.
On December 11, the South Korean media outlet Chosun Media stated that a state intelligence official had told them that Kwon had established himself in Serbia.
Serbia and South Korea do not currently have an extradition agreement in place. According to a recent opinion piece by Minso Kim, a writer for the South Korean daily Chosun Media, this likely made Serbia an ideal hiding place for Kwon.
However, Kwon no longer has his passport thanks to South Korea, which might make future trips more challenging. Since South Korean prosecutors issued an arrest warrant against him on September 14, Kwon has been charged with being on the run, a charge he denied in October.
The 31-year-old failed entrepreneur is also charged with violating regulations governing financial markets. Kwon, however, recently claimed that he has never taken any money and has never had any “hidden cashouts” in response to an emotive tweet that was directed at him. Kwon has consistently denied all wrongdoing.
The Terra ecosystem collapsed in part as a result of the TerraClassicUSD ($USTC) algorithmic stablecoin being de-pegged; Terra Classic (LUNC), which was closely related to the stablecoin, also experienced a near 100% decline. The ecosystem lost worth in the neighborhood of $60 billion.
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