The Ministry of Justice of South Korea has requested investigative assistance from the Serbian government.

Interpol allegedly issued a “Red Notice” against Kwon on September 26.

Do Kwon, the CEO of Terraform Labs, is still being sought around the world, and the South Korean government now thinks he may be in Serbia after departing Singapore in September. As per the report, South Korean police investigated a tip about Do Kwon’s whereabouts and were able to determine that he is currently in Serbia. Since Terra’s demise, South Korean law enforcement has been looking for Do Kwon, but they don’t seem to have had much success locating him until recently. 

Red Notice on Do Kwon

Kwon’s whereabouts became unknown when police issued a warrant for his arrest in mid-September on suspicion of violating capital-markets law. Also, a “Red Notice” was allegedly issued on Kwon by Interpol on September 26.  Additionally, Kwon was permitted to turn in his passport by the South Korean Ministry of Foreign Affairs. The ministry also stated that his passport will be completely canceled if he doesn’t comply. 

Prosecutors in South Korea confirmed allegations that Do Kwon had flown to Dubai for a potential layover before continuing to another location, which, it turns out, may have been Serbia. Kwon has insisted that he is “making zero attempts to hide” and is not “on the run.” Over the past few months, he has kept up his social media activity. 

The Terra ecosystem’s demise caused serious financial and psychological harm to the whole crypto sector, with some investors losing their entire life savings. A man reportedly killed himself in Taiwan after losing $2 million.

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Filed under: Bitcoin - @ December 12, 2022 5:45 am