Korean Officials Reach Serbia in an Attempt to Hunt Do Kwon

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A group of South Korean government representatives has reached Serbia in an effort to find Do Kwon, the co-founder of Singapore-based Terraform Labs, the parent firm of the crashed stablecoin TerraUSD.

After the South Korean government issued an arrest warrant for Kwon, this was carried out. It should be mentioned that Interpol has a red alert out against the founder of Terra, therefore he is also under their jurisdiction.

Bloomberg reported that the government representatives traveled to Serbia last week to ask for assistance in the search for Do Kwon. A senior Justice Ministry official apparently accompanied the delegation.

The possibility that Do Kwon might be hiding out in Serbia was discovered in December. Early in December, Serbian police were requested to turn over Do Kwon to South Korean prosecutors who claimed he was “in hiding” there. According to the authorities, he traveled from South Korea to Singapore around the time of the disaster before departing for Serbia through Dubai in September.

Notably, Kwon’s South Korean passport has been canceled, making it impossible for him to leave the country from where he is right now, at least theoretically. He and several other Terraform executives have arrest warrants, and Interpol has issued a Red Notice requesting that international police authorities detain Kwon.

Kwon has repeatedly denied running away. The founder, however, has been relocating over the past few months, first from Singapore to Dubai and then to Serbia. Since South Korea canceled his passport in October 2022, the rest of the community is baffled as to how he has been able to travel.

The former founder said on his Twitter account on February 1 that he had done nothing illegal and denied having hidden cashouts or stealing money at a time when rumors about his whereabouts were already circulating.