South Korean law enforcement officers arrive in Serbia to detain Do Kwon

Bloomberg journalists report that a delegation of officials from South Korea arrived in Serbia last week. Officials and law enforcement officials are hoping for the loyalty of local authorities in arresting До Квон" href="https://noworries.media/biography/do-kvon/" data-bio-id="3665">Do Kwon, the founder of TerraformLabs, whose collapse set off a chain reaction of crypto company bankruptcies in 2022.

Law enforcement efforts have not yet been successful. Although South Korea has concluded bilateral extradition treaties with 31 countries, Serbia is not on the list. However, South Korea has also concluded a much broader multilateral extradition treaty with the Council of Europe, to which Serbia is also a signatory. In theory, this increases the chances of the Korean authorities finally bringing Kwon to justice this time.

The geography of the search for the founder of the Terra ecosystem has spread to almost half the globe. Earlier, Kwon was in Singapore, later Interpol announced that the fraudster was wanted in 195 countries, and only in December last year did it become known about Kwon’s exact location. As a reminder, the CEO of TerraformLabs is accused by the South Korean authorities of violating the country’s financial markets laws.

Previously, Do Kwon claimed that he was not «running away» and «not making efforts to hide,» so he continued to post actively on his Twitter account over the past few months. In early February, he reassured the community that he had «never stolen money,» «never manipulated markets,» and «never received secret payments.»

I find that Twitter is a good place for rumors but a poor place to get facts

I’ve stolen no money and never had «secret cashouts» — happy to address specific allegations

In any case, good day to you

— Do Kwon (@stablekwon) February 1, 2023

Interestingly, while already in Serbia, both the South Korean prosecutor’s office and the Ministry of Justice refused to say whether Kwon had been found. It is possible that the authorities are thinking of an effective legal mechanism that will allow them to extradite the TerraformLabs CEO to his homeland.