Fugitive Co-Founder and CEO of Terraform Labs, Do Kwon, is in Serbia, said The Chosun Ilbo, a South Korean news platform. The news has been picked by many other media organizations including Bloomberg.
The Chosun Ilbo, in a report on Monday, said South Korean authorities have traced Do Kwon’s current location to Serbia and they have made a request to the Serbian government for Kwon’s extradition.
Do Kwon who co-founded and ran the Terra-Luna ecosystem of TerraUSD stablecoins and Luna cryptocurrency, which were tied to each other through algorithmic arrangement, is not seen in public since Luna collapsed from an all-time high of $119 in April to virtually $0 by the first half of May 2022.
Earlier, South Korean investigators had confirmed that Kwon had escaped from Singapore to Dubai before heading to a hideout in another country.
On September 14, a South Korean court issued an arrest warrant against Kwon for allegedly violating capital market laws. On September 26, a Red Notice was issued by Interpol at the request of the South Korean government.
Around the same time, Singapore authorities confirmed that Kwon is not in the city nation. On October 6, South Korea’s Foreign Ministry asked Kwon to surrender his passport, which is believed to have been revoked around October 20.
South Korea doesn’t have a bilateral extradition treaty with Serbia but it has signed an extradition treaty with the Council of Europe, to which Serbia is a signatory.
