Key Points:
- The delegation includes prosecutors from Seoul, where the Do Kwon investigation is being conducted, as well as members from the South Korean Ministry of Justice.
- Do Kwon continued to post remarks on Twitter questioning the authorities, claiming that he did not flee but did not want to surrender himself to the police because he was terrified for his safety.
South Korean authorities have deployed investigators to Serbia, where Terraform Labs CEO Do Kwon is alleged to be currently residing.
According to reports on February 7, South Korean dispatched a mission to Serbia last week to find Do Kwon, the CEO of Terraform Labs, the firm behind two cryptocurrencies that failed in 2022, Terra. LUNA) and stablecoin UST. The delegation includes prosecutors from Seoul, where the Do Kwon investigation is being conducted, as well as members from the South Korean Ministry of Justice.
South Korea filed an arrest warrant for Do Kwon in September 2022 to investigate the LUNA-UST disaster. However, this figure did not comply with the summons and escaped from Singapore to Dubai, where he is claimed to have sought shelter in Serbia. Do Kwon’s passport was later revoked, and Seoul officials requested that the International Criminal Police Organization (Interpol) issue an arrest order for him.
Do Kwon may have chosen Serbia as a hiding location since it does not have an extradition treaty with South Korea, but the authorities in this Eastern European nation have been asked to coordinate the arrest.
However, Do Kwon continued to emerge on Twitter to make remarks disputing the authorities, claiming that he did not flee but did not want to surrender himself to the police because he was terrified for his safety. The Terraform Labs CEO also disputed charges of project finance misappropriation or self-interest in the aftermath of the LUNA-UST catastrophe.
Former Terraform Labs executives and workers were approached by Korean officials and requested to assist in the investigation. The Seoul Prosecutor’s Office and the South Korean Ministry of Justice both declined to comment or disclose information on Do Kwon’s present whereabouts. A Terraform Labs senior manager claimed last week that Do Kwon is ready to return to the cryptocurrency market as he is set to launch a new project team built on Terra 2.0, blockchain is “resurrected” from the previous Terra.
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