Do Kwon, the failed cryptocurrency boss who engineered the $40 billion (£32.7 billion) collapse of the terraUSD and Luna tokens, is allegedly hiding in Serbia, according to South Korean officials. Prosecutors for Seoul’s Southern District said they will work in tandem with Serbia to get him into custody. After the tokens collapse in May, Kwon, 31, was charged with fraud and violations of capital markets legislation. Interpol issued a global arrest order for him in September.
The next month, South Korean authorities said that he had left Singapore, where the headquarters of his firm Terraform were located, and had flown through Dubai to an unidentified nation, as reported by BBC.
The Interpol “Red Notice” is a notice to all law enforcement agencies throughout the world to find and temporarily detain a suspect pending extradition, surrender, or other legal action.
Despite not having an extradition agreement, Serbia and South Korea have previously complied with demands made under the European Convention on Extradition.
Despite earlier denying that he is hiding, Mr. Kwon has not disclosed his location.
“I am not ‘on the run’ or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide,” he tweeted in September.
In relation with the alleged stablecoin Terra and its sibling token Luna, prosecutors have also filed arrest warrants for five more individuals. These individuals have not been identified. Stablecoins are intended to have a largely constant price and are typically anchored to a physical good or currency; nonetheless, Terra’s value plummeted amid this year’s general cryptocurrency slump.
