Cointime

Download App
iOS & Android

South Korean Officials Traveled to Serbia to Locate Terra's Do Kwon

A group of South Korean officials has traveled to Serbia in a bid to locate Do Kwon, the co-founder of Singapore-based Terraform Labs, the parent company of crashed stablecoin TerraUSD.

According to a Tuesday report by Bloomberg, a team of South Korean officials went to Serbia last week to seek help in the hunt for Do Kwon. The prosecutor’s office in Seoul has reportedly confirmed the news, noting that a senior Justice Ministry official also accompanied the delegation.

In early December, South Korean prosecutors claimed Do Kwon was “in hiding” in Serbia, asking the European nation’s police force to hand him over to them. The prosecutors said he had moved to Serbia via Dubai in September, after leaving South Korea for Singapore at around the time of the crash.

Notably, Kwon’s South Korean passport has been revoked, which – in theory at least – means he is unable to travel abroad from his current location. An arrest warrant has been issued for him and a number of other Terraform executives and Interpol has issued a Red Notice, calling upon international police officers to arrest Kwon.

(By Ruholamin Haqshanas)

Comments

All Comments

Recommended for you

  • Cointime's Evening Highlights for May 19th

    1.US spot Bitcoin ETFs saw net inflows of $948.3 million this week
  • Cointime May 3rd News Express

    1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days
  • Cointime April 23th News Express

    1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
  • South Korea's Upcoming Legislative Election Puts Crypto-Related Policies in the Spotlight

    The upcoming legislative polls in South Korea may be influenced by the crypto-related promises made by the two main parties. With a significant number of crypto investors in the country, even a small percentage of voters casting their ballot based on crypto policies could have an impact on the election result. Young people, who make up the majority of the crypto ecosystem, are expected to play a crucial role in the election. The conservative People Power Party (PPP) plans to prioritize the establishment of a regulatory framework for cryptocurrencies before implementing any taxation policies, while the liberal Democratic Party of Korea (DPK) proposes a comprehensive framework but wants to maintain the start of crypto taxation in 2025. Both parties are competing for the support of crypto-savvy voters, but it is unlikely that market regulation will be implemented during this election year.
  • Cryptocurrency firm Terraform Labs and its founder Do Kwon committed fraud

    The US Securities and Exchange Commission (SEC) ruled that the actions of cryptocurrency company Terraform Labs and its founder Do Kwon constitute fraud. The company's bankruptcy in 2022 resulted in a loss of $40 billion in investor funds.
  • Cointime April 5th News Express

    1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development 5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges 7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX 8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection 9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others
  • Do Kwon will go on trial in Manhattan on Monday

    Terraform Labs and its founder Do Kwon will face trial in Manhattan on Monday, accused by regulators of lying to investors about the collapse of the company's two cryptocurrencies, LUNA and UST, which disrupted the market in 2022. Regulators also accuse them of falsely claiming that Terraform's blockchain was used for a popular mobile payment app in Korea. Do Kwon will not attend the trial. He was arrested in Montenegro last March and is awaiting extradition back to his home country of South Korea, where he faces criminal charges. A court in Montenegro postponed his extradition on Friday, citing concerns from the country's prosecutor's office about the extradition process.
  • Do Kwon will be released from Montenegro prison but will not be allowed to leave the country

    Do Kwon, co-founder of Terraform, will be released from prison in Montenegro, but due to several criminal charges brought by national authorities, he will remain in the Balkans. The High Court of Montenegro ordered the confiscation of Kwon's passport on Friday to prevent him from leaving the country. According to the court's order, Kwon will leave Spuž prison on Saturday. The prosecutor opposes extraditing Kwon to South Korea and would prefer him to be sent to the United States, where he could face a longer sentence if convicted.
  • Terra co-founder Do Kwon released, awaiting Supreme Court extradition decision

    Market news: Terra co-founder Do Kwon has been released and is awaiting the extradition decision of the Supreme Court.
  • Terra founder Do Kwon to be extradited to U.S.

    Terra founder Do Kwon will be extradited to the United States.