Just-In: Do Kwon Hunt Concluded? South Korean Authorities Reach Serbia

A team of legation from South Korea visited Serbia last week in the hope to find Do Kwon, who is facing charges for erasing over 60 billion USD from the digital asset market.

Last December, it came to the notice that Do Kwon might be hiding out in Serbia. According to reports, the prosecutors’ office in Seoul has accepted that the news reports about their team along with a senior justice ministry representative to Serbia are not false.

Korean Authorities On A Hunt To Find Kwon

Last year, in September, the South Korean authorities issued an arrest warrant against Kwon on the charges of breaking market laws. Since then his location has been unknown. His passport has been taken off the list and the authorities even called him an Inter Pol criminal. Last year, the officials said that he had flown to Singapore, before flying to the next destination, which was then claimed to be Dubai. However, the prosecutor’s office denied giving the exact details of his current location.

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Kwon Tweets In Defense

On February 1, when the speculations of his location were already in buzz, the former Terra USD founder claimed on his Twitter handle that he has not done anything wrong and denied stealing money or having secret cashouts.

Kown is the founder of the stablecoin TerraUSD which collapsed in May 2022. It was supposed to be pegged always against $1 and became a red hot crypto project. However, on May 7, the price of UST fell drastically within a few hours to a few cents. Luna, the sister token, which was supposed to stabilize the price, fell from $80 to cents on May 11.

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Shourya is a fintech enthusiast who mainly reports on Cryptocurrency Prices, Union Budget, CBDC, and FTX collapse. Connect with her at [email protected] or tweet at Shourya_Jha7