Do Kwon is hiding in Serbia

According to a report by Chosun Media on December 11, South Korean authorities learned about the whereabouts of До Квон" href="https://noworries.media/biography/do-kvon/" data-bio-id="3665">Do Kwon— the creator of the Luna cryptocurrency is in Serbia. «Recently, we received intelligence that CEO Kwon was in Serbia, and it turned out to be true,» a Korean official commented on the situation. The report also states that the South Korean Ministry of Finance is «in the process of asking the Serbian government for cooperation» in the investigation.

The South Korean authorities have been looking for Kwon since the Terra collapse. The 31-year-old fraudster was known to have moved to Singapore in late April, just before the Terra ecosystem collapsed. on September 14, the Criminal Division of the Seoul South District Prosecutor’s Office issued an arrest warrant for Kwon for violating South Korean capital market laws. Around the same time, Singapore authorities confirmed that Kwon was no longer in the country. Shortly afterwards, Interpol issued a red notice against the Luna founder, and later the South Korean Ministry of Foreign Affairs ordered Kwon to surrender his passport. The ministry added that failure to comply would result in the complete revocation of his identity card.

If it turns out that Do Kwon is indeed in Serbia, South Korea must come up with an effective legal mechanism to request the extradition of the Terraform Labs founder. 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, so this increases the chances of the Korean authorities bringing Kwon to justice.

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. As a reminder, the CEO of Terraform Labs called on the bankrupt cryptocurrency exchange FTX and its founder Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried to tell the public the truth about the collapse of the Terra LUNA ecosystem. Thus, Kwon, who is wanted by Interpol and law enforcement agencies in 195 countries, hinted at Freed’s involvement in the collapse of the LUNA token and the UST stablecoin, which led to millions of investor losses.