South Korea Authorities Say Terra’s Do Kwon Is In Serbia, Calls On Government For Help

The hunt for Terra founder Do Kwon has been ongoing for months now since the network collapsed. South Korean authorities continue their search and have already gone as far as invalidating Kwon’s passport but he continues to be elusive. This time around, authorities believe that they may have located where the founder is currently hiding and are reportedly working with the Serbian government to get him back to South Korea.

Do Kwon Is In Serbia?

The South Korean prosecutors have seemingly been following Do Kwon around the world. Previously, authorities had said that they believed that Kwon was in Dubai. However, they now believe that the Terra founder made his way to Serbia from Dubai last month.

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Kwon currently has a red notice him issued by Interpol, making him one of the most wanted people on the planet. But there is no record of the founder actually entering Serbia given that his passport is currently invalid. Furthermore, authorities are also looking at the possibility that Kwon could have moved on from Serbia and could be hiding out in one of the neighboring countries.

Nevertheless, South Korean authorities remain steadfast in their pursuit of the Terraform Labs (TFL) founder. Reports say the statute of limitations was suspended by the Seoul Southern District Prosecutor’s Office in Do Kwon’s case because it believes that the founder had fled the country earlier in the year for the sole purpose of avoiding any investigation into his involvement with the Terra collapse.

South Korean officials are reportedly in the process of working with the Serbian government to work out an extradition deal since there is no extradition treaty between the two countries. However, both countries are in agreement with the European Convention on Extradition.

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Terra Founder Comes For FTX

With the collapse of the FTX crypto exchange, there have been many shocking developments and one of those is the fact that founder Sam Bankman-Fried is being investigated for market manipulation. After the news broke, Do Kwon took to Twitter to share his thoughts on this.

In a multiple-tweet thread, the Terra founder accuses FTX’s sister company Alameda of starting the UST currency contraction that would eventually lead to the collapse of the network. According to Kwon, Alameda had drained UST’s curve pools by selling off 500 million UST in a matter of minutes.

This is fairly public knowledge at this point, but the large currency contraction that UST went through in Feb 2021 was started by Alameda, when they sold 500mm UST in minutes to drain its curve pools during the MIM crisis

— Do Kwon 🌕 (@stablekwon) December 8, 2022

It remains to be seen if Kwon’s accusation of Alameda actually has any merit to it. However, the Terra founder ends his Twitter thread with “What’s done in darkness will come to light.” Kwon has also maintained throughout the months that he is not on the run, even though South Korean authorities say he is. He currently has an active arrest warrant out on him in his home country.