South Korean Searches for Terraform Labs Co-founder Do Kwon
South Korean authorities have launched a manhunt for the Terraform co-founder Do Kwon by seeking a partnership with the Serbian government as per a post.
South Korean Officials Traveled to Serbia to Locate Terra's Do Kwon – A group of South Korean officials have traveled to Serbia in a bid to locate Do Kwon, the founder of the TerraUSD algorithmic stablecoin that death-spiraled and pulled the rest of the pic.twitter.com/uJ2pUHAbor
— diamond lunc (@ara39713) February 8, 2023
According to a Feb. 7 Bloomberg report, South Korean authorities have sent no fewer than two people to Serbia with the primary assignment of tracking down Do Kwon, whose whereabouts have remained unclear.
However, the prosecutor’s office in Seoul confirmed the report, stressing that the authorities are seriously searching for Do Kwon as members of its team have been delegated to the Balkan state in a bid to uncover its identity.
It was gathered that one of the delegated members was from the prosecutor’s office while another was from South Korea’s Justice Ministry.
It would be recalled that South Korean-based publication Chosun Media revealed on Dec. 11 that a state intelligence gathering established the claim that Kwon currently resides in Serbia.
Meanwhile, there is no extradition treaty between the two countries – South Korea and Serbia.
It is noteworthy that South Korea has revoked and invalidated Kwon’s passport, having accused the 31-year-old fallen entrepreneur of breaching capital markets laws.
He has been alleged of being on the run since Sept. 14 following the warrant arrest issued against him by the South Korean prosecutors.
Do Kwon Reacts to South Korean Threats
Following threats from the South Korean authorities and other quarters, Terraform Labs co-founder Do Kwon resurfaced online on Feb. 1 stating that he did not steal any money nor had secret cashouts.
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
In any case, good day to you
— Do Kwon 🌕 (@stablekwon) February 1, 2023
While he has been severely indicted in the collapse of the Terra ecosystem which triggered the de-pegging of its TerraClassicUSD (USTC) algorithmic stablecoin, he has continued to distance himself.
It should be noted that investors are also on the lookout for Terra’s Do Kwon. This was made up of 4,000 people on Discord under the name titled “UST Restitution Group” (URG). The group has been trying to locate Do Kwon.