Regulation

Hunt for Do Kwon Intensifies As South Korean Authorities Work With Serbian Officials: Report

Authorities in South Korea are reportedly seeking help from officials in Serbia to expedite the arrest of embattled Terraform Labs CEO and co-founder Do Kwon.

According to Bloomberg, a senior Justice Ministry official and a team from the prosecutor’s office in Seoul traveled to Serbia last week amid reports that Kwon is hiding in the Balkan nation.

Kwon faces charges for the $60 billion collapse of the stablecoin TerraUSD (UST) and the crypto asset Luna.

The Terra ecosystem collapsed when TerraUSD lost its peg to the US dollar, which resulted in both the UST and LUNA plummeting to essentially zero.

Kwon’s whereabouts have been unknown since South Korean authorities issued a warrant in September. Reports surfaced last year that the crypto developer is hiding in Dubai.

South Korea revoked Kwon’s passport after Interpol issued a red notice asking law enforcement worldwide to help in the search.

Amid the manhunt, Kwon claims that he is making zero effort to hide. He also denied wrongdoing in a tweet posted on February 1st.

“I find that Twitter is a good place for rumors but poor place to get facts.

I’ve stolen no money and never had “secret cashouts” – happy to address specific allegations.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney



Source link

Leave a Reply

Back to top button
Please enter CoinGecko Free Api Key to get this plugin works.