December 12, 2022 12:43
Terraform Labs CEO Do Kwon, who is responsible for the spectacular collapse of the stablecoin TerraUSD and its digital coin counterpart Luna, is living in Serbia.
One investigator said Sunday, "We have information that Kwon is in Serbia and the tip appears to be credible."
A team of financial crimes investigators with the Seoul Southern District Prosecutors' Office obtained an arrest warrant for Kwon in September on charges of providing false information to investors, while Interpol issued a red notice for his arrest.
The Justice Ministry is asking the Serbian government to cooperate in the investigation.
Kwon fled to Singapore in April, right before the cryptocurrency collapsed causing an estimated W50 trillion in losses to investors both in Korea and abroad (US$1=W1,301). He is believed to have fled to Serbia via Dubai, another haven for prominent criminals.
Kwon recently tweeted that he is not on the run, but the pariah country of Serbia, which is not a member of the EU and lays controversial claim to neighboring Kosovo, would be an odd destination for rest and relaxation during its harsh winter.
- Copyright © Chosunilbo & Chosun.com