South Korean Authorities Traveled To Serbia To Find Terra’s, Do Kwon

South Korean delegates visited Serbia recently in a search for Do Kwon. He is accused of wiping over 60 billion USD from the digital asset market.

In December, reports emerged that Do Kwon might be hiding in Serbia. The prosecutor’s office in Seoul has confirmed the news of their delegation. The office said that the commission includes a high-ranking justice ministry official and that traveling to Serbia is true.

The last December, South Korean prosecutors accused Do Kwon of hiding in Serbia, and authorities requested that Serbian police extradite him to South Korea. According to the prosecutors, Do Kwon fled to Serbia through Dubai in September. And he left South Korea for Singapore around the digital asset market crash.

Related Reading | Interpol Releases Red Notice For Terra Co-Founder Do Kwon

Do Kwon has consistently denied being a fugitive, but over the past few months, he has relocated from Singapore to Dubai and now Serbia. His ability to travel has puzzled the rest of the community, as South Korea revoked his passport in October 2022.

South Korean authorities have already issued an arrest warrant for Do Kwon. It’s worth mentioning that he is also the subject of an Interpol red notice.

Although a global search is underway for him, Do Kwon has remained active on social media, frequently posting tweets. However, he has been silent for several weeks. 

It’s noteworthy that South Korea has revoked the passport of Do Kwon, preventing him from traveling in his current position. The Authorities have issued an arrest warrant for him and other Terraform executives, and Interpol has issued a Red Notice, requesting the international police to apprehend him.

Do Kwon tweet in defense?

On February 1, rumors about his whereabouts were circulating. Terra USD, the founder, proclaimed on his Twitter account that he did not engage in any wrongdoing and denied accusations of stealing money or secretly withdrawing funds.

Do Kwon is the creator of the stablecoin TerraUSD, which suffered a significant collapse in May 2022. TerraUSD is intended to remain pegged to the value of $1 and is a highly sought-after cryptocurrency project. 

However, on May 7, the price of UST suddenly dropped to a few cents within a few hours. The sister token, Luna, designed to maintain the price, fell from $80 to cents on May 11.

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