South Korean Officials Traveled to Serbia to Locate Terra's Do Kwon
A group of South Korean officials has traveled to Serbia in a bid to locate Do Kwon, the co-founder of Singapore-based Terraform Labs, the parent company of crashed stablecoin TerraUSD.
According to a Tuesday report by Bloomberg, a team of South Korean officials went to Serbia last week to seek help in the hunt for Do Kwon. The prosecutor’s office in Seoul has reportedly confirmed the news, noting that a senior Justice Ministry official also accompanied the delegation.
In early December, South Korean prosecutors claimed Do Kwon was “in hiding” in Serbia, asking the European nation’s police force to hand him over to them. The prosecutors said he had moved to Serbia via Dubai in September, after leaving South Korea for Singapore at around the time of the crash.
Notably, Kwon’s South Korean passport has been revoked, which – in theory at least – means he is unable to travel abroad from his current location. An arrest warrant has been issued for him and a number of other Terraform executives and Interpol has issued a Red Notice, calling upon international police officers to arrest Kwon.
Kwon is wanted on charges of violating the Capital Markets Act and committing fraud, charges that he denies and has called “politically motivated.” But thus far, he has neither confirmed nor denied the suggestion that he has taken up residence in Serbia.
Some experts had previously claimed that Serbia could be a potential hiding spot for Kwon because it has never signed an extradition treaty with South Korea. Without this, experts say South Korean prosecutors may be in a tight spot.
“In order for South Korean prosecutors to secure an arrest, Serbia must issue an extradition order, and extraditions need to be mutually beneficial. Serbia is still an
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