The hunt for the controversial founding father of the now-collapsed Terra ecosystem, Do Kwon, has intensified with South Korean officers reportedly confirming they despatched no less than two folks to Serbia to trace him down.
Based on a Feb. 7 Bloomberg report, the prosecutor’s workplace in Seoul stated the experiences “aren’t false” concerning members of its workforce trekking out to the Balkan state to search out Kwon.
It seems no less than two state officers went — one from the prosecutor’s workplace and the opposite being a senior member of South Korea’s Justice Ministry.
South Korean-based publication Chosun Media confirmed on Dec. 11 {that a} state intelligence official knowledgeable them that Kwon had primarily based himself in Serbia.
There’s presently no extradition treaty in impact between South Korea and Serbia.
This probably made Serbia an excellent hideout spot for Kwon, in accordance to a current opinion article from Minso Kim — a author for the South Korean publication Chosun Media.
South Korea has nonetheless stripped Kwon of his passport which can make future journey harder.
Kwon has been accused of being on the run since Sept. 14 when South Korean prosecutors issued an arrest warrant in opposition to him, an accusation that he denied in October.
The 31-year-old fallen entrepreneur has additionally been accused of breaching capital markets legal guidelines.
Whereas Kwon is understood to be a prolific tweeter, he went almost two months with out tweeting or retweeting a single submit — inflicting some to take a position what the controversial determine has been as much as.
However Kwon just lately responded to an evocative tweet focused at him, stating that he hasn’t stolen any cash and has by no means had any “secret cashouts.”
I discover that Twitter is an effective place for rumors however poor place to get details
I’ve stolen no cash and by no means had “secret cashouts” – pleased to deal with particular allegations
In any case, good day to you
— Do Kwon (@stablekwon) February 1, 2023
Up to now, Kwon denies any wrongdoing.
Associated: Terraform Labs claims case in opposition to Do Kwon is ‘extremely politicized’: WSJ
The collapse of the Terra ecosystem was partially triggered by the de-peg of its TerraClassicUSD (USTC) algorithmic stablecoin, Terra Basic (LUNC) was carefully linked to the stablecoin with that too falling near 100%.
Roughly $60 billion value of worth was worn out of the ecosystem.
Cointelegraph reached out to Terraform Labs and the South Korean Prosecutor’s workplace for remark however didn’t obtain a direct response.
