Just-In: Do Kwon Hunt Concluded? South Korean Authorities Reach Serbia

A South Korean delegation travelled to Serbia last week looking for Do Kwon, that must pay for wiping out more than $60 billion of the digital asset market.

In December of this year, we learned that Mr. Kwon was hiding in Serbia. According to reports, the prosecutors’ office in Seoul has accepted that the news reports about their team along with a senior justice ministry representative to Serbia are not false.

Korean Authorities On A Hunt To Find Kwon

Last year, in September, the South Korean authorities issued an arrest warrant against Kwon on the charges of breaking market laws. Since that time, his whereabouts are unknown. His passport has been removed and the authorities have even called him a criminal. Last year, officials said that he took the plane to Singapore, before taking the plane to the next destination, which was then supposedly Dubai. However, the Office of the Prosecutor denied having given the exact details of its current location.

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Kwon Tweets In Defense

On February 1, when the speculations of his location were already in buzz, the former Terra USD founder claimed on his Twitter handle that he has not done anything wrong and denied stealing money or having secret cashouts.

Kown is the founder of the terrausd stable that collapsed in May 2022. It was meant to always be tied to $1 and became a burning project. However, on May 7th, the price of oil dropped drastically in a few hours to a few hundred. Luna's token, which was supposed to stabilize the price, dropped from $80 to a few cents on May 11.

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