S Korean Prosecutors Say Do Kwon Is in Serbia, Terra Luna Classic Takes a Tumble
South Korean prosecutors have claimed Do Kwon is “in hiding” in Serbia – and have asked the European nation’s police force to hand him over to them. Meanwhile, it has been a rocky past few hours for Terra Luna Classic (LUNC) – the token launched by Kwon and his firm Terraform Labs.
Jose Ilbo reported that the Seoul Southern District Prosecutors’ Office – the part of the prosecution service that has been investigating Kwon since LUNC and Terra ecosystem coins collapsed in May – had “confirmed” that Kwon was “living in Serbia” after “obtaining information” about his whereabouts.
The prosecutors added that he had moved to Serbia via Dubai in September – after leaving South Korea for Singapore at around the time of the crash.
They added that they “would work with” officials in Serbia in a bid to detain Kwon.
The media outlet added that South Korea’s Ministry of Justice has also intervened – and is now “in the process of requesting cooperation from the Serbian government.”
LUNC prices appear to have taken a significant downturn on the news, with the coin’s price down over 3% in the past 24 hours, per CoinMarketCap data. However, the price drop may well be due to other factors, with the value of other coins also shrinking in the past few hours.
Kwon is wanted on charges of fraud and capital markets law violations, and has been issued with an Interpol red notice.
Red notices call on law enforcement officers in most nations of the world to detain a suspect pending extradition. However, South Korea and Serbia have never signed an extradition treaty – although both have previously abided by European Convention on Extradition protocols.
The South Korean media outlet Joongang Ilbo spoke to a number of senior prosecutors in an attempt to
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